Every state and county has slightly different rules concerning the sale of pre-foreclosures and short sale investing, but there is a basic process that each follows.  This foreclosure process takes quite a long time before a property is sold at the sheriff’s auction and even, in some cases, before the homeowners are evicted from the property.  Yet, even so it’s still a good chance for real estate investors to pick up properties at a discount along every step of the way.

Begins with Non-Payment

A lender is often a bank that lends the buyer money based on their job, down payment and credit history to purchase a home.  In return the buyer agrees to a home mortgage with that bank to begin paying back the loan.  The bank makes money because the loan accrues interest over the lifetime of the mortgage.  The buyer becomes a homeowner and everyone is happy.  Should the buyer turned homeowner stop paying back the loan through the mortgage, the bank has a safety net in being able to take ownership of the homeowner’s property.

Full article… Understanding the Foreclosure Process

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Here's a collection of posts from the blogosphere recently that look at the housing / mortgage crisis and whether it represents a good time to invest. I recognize that this crisis represents a lot of heartache and pain for many people and do not wish to make light of that, however as investors we must consider whether now is a good time to buy.

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Posted By:Diana Olick. If you buy one of Michael Crews Development’s luxury homes, priced at around $1.6m, you get a 2000 square-foot cityscape row-home worth $400000 for free. The luxury home is in San Pasqual Valley, the row-home in …

Full article… Housing Crisis: Is Now the Right Time to Invest in Real Estate?

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Note: check out our database of foreclosure homes which has over 1.5 million listings including an extensive supply of bank foreclosures. It now includes all Wells Fargo foreclosures since their asset manager, Premiere Asset Services, has signed up.

Once you've decided to start investing in foreclosures, you still have one big step left to handle. You must find the right foreclosure listings. There are numerous sources of foreclosure properties and I find it helpful to divide the sources into two broad categories: government foreclosures and bank foreclosures.

Within the category of government foreclosures you can consider quite a many different sources.  These include VA foreclosures from the Department of Veterans Affairs, HUD foreclosures from the Department of Housing and Urban Development, the General Services Administration, the Department of Treasury, the Small Business Administration, the Department of Agriculture (USDA), the Marshals Service, the Federal Deposit Insurance Corporation (FDIC) and also Fannie Mae.  At last count there were about 37 different government departments through which you can locate foreclosure properties.  One site that has compiled listings from a few of these departments is www.homesales.gov.

Full article… Foreclosures – Where To Find Great Foreclosure Listings

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Foreclosures are largely considered a great opportunity for investors to pick up heavily discounted properties and some significant instant equity.  As such many people seem to be on the hunt for more information about HUD foreclosures.  I hope to shed some light on the topic and answer the following questions:

• what is a HUD foreclosure?
• how do I find a HUD foreclosure?
• what special rules and procedures are involved?
• do they really stack up as a great investment?

Hopefully that will give you enough information to evaluate this as an investment opportunity and know where to begin.

HUD homes are owned by the United States government through the Department of Housing and Urban Development. When a foreclosure is carried out on these homes, the ownership of the home reverts to the government, for use or "disposal" as they see fit.  HUD contracts management companies to handle the preparation and sale of the homes in each state.  Their respective websites which list all the HUD foreclosures are sorted by state on the HUD website here.

Full article… HUD Foreclosure Fortunes: Reality or Myth?

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Just like any other lender, the Department of Veteran's Affairs expects buyers to whom they lend money for property to pay their mortgages on time until the debt is paid off. Sometimes however, like any other lender, the VA has borrowers who default on their payments. When this happens, the VA will foreclose on the property to recoup its losses.

Pocket friendly financing incentive and interest rates are offered to all interested buyers so that the VA does not have to pay taxes, insurance, and maintain the foreclosed homes that are for sale. The VA makes these foreclosure homes available to anyone. You don't even have to be a veteran.

Full article… VA Foreclosures – Not Just For Veterans

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Technorati Tags: foreclosed homes, foreclosure homes, foreclosures, government foreclosures, multiple listing service, va foreclosures

Note: check out our database of foreclosure properties which has over 1.5 million listings including an extensive supply of bank foreclosures. It now includes all Wells Fargo foreclosures since their asset manager, Premiere Asset Services, has signed up.

Whether you are searching for a new home, a second home or seriously considering real estate as an investment, you will find there are different options available to you. These choices can include traditional home buying, purchasing through an auction and many other possibilities. One alternative you may not have considered is bank REO sales.

If a bank cannot sell a property at a bank foreclosures auction, the bank may do an REO sale. This can happen when the amount owed on the property is more than the value of the property. When this is the case, the bank tries to sell the property not at an auction where the price can be lower. At this stage of the process, they will most often sell the property through a realtor.

Full article… REO Properties and Bank Foreclosures

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