Real Estate for Sale
Homes, Condominiums (Condos), Townhouses, Pre-foreclosures, Foreclosures,
Bank-Owned, REO's, Short Sales, Sheriffs Sales, Tax Liens and Auctions
Nearby Amenities
Look at homes for sale near shopping centers, entertainment venues, parks, hospitals, libraries, public transportation, and potential employers. While the idea of living way out in the country may be appealing, it will cost more in terms of your daily commute. Having some amenities within walking distance can be a big plus. Long drives take time, money, and physical energy. In terms of resale value, it's much easier to sell a centrally located house rather than a house that's out in the country.
Crime Statistics
When you're moving to a new town or city, it might be hard to tell where the high and low crime areas are. You can find out about various neighborhoods' criminal activity by calling the local police department or contacting the city statistics departments. Statistics can provide information about the types of crime as well, such as violence, home theft, or drug-related crimes. Of course you'll want to look at homes for sale in safe neighborhoods.
School Districts
School districts are another thing to make sure to take into careful consideration when researching homes for sale in a particular area. This is especially true if you have children, or plan to in the future. The quality of education your child receives is critical to his or her development. Even if your kids are grown, living near top quality schools can be an important factor in a home's resale value.
Other Considerations
In addition to nearby amenities, crime statistics, and schools, you'll want to ponder other considerations as well. It's wise to drive up and down the streets of neighborhoods you're considering moving to during all times of the day and night. Visiting the areas on weekends and holidays allows you to see an entirely different view of how things may be. Look at the people in the area; notice their yards, pets, and the general ambiance of the neighborhood. If you like what you see and feel, chances are you've found the right place to live.
Purchasing a house is an important decision to make, one that shouldn't be made lightly. In addition to finding a place with enough square footage, the right number of bedrooms and bathrooms, and with a large enough garage, is also very important in the decision making process.
Reasons Why Buying a Foreclosure Is a Good Investment
By Karim El Sheikh
Foreclosures are the perfect investment choice for investors because they are sold at discounted prices. You are getting a property with built-in equity. Foreclosures can be purchased at foreclosure auctions or by purchasing REO's (bank-owned real estate). Short sales are preforeclosures and have not gone through the foreclosure process. They are still owned by their current owners who are in default or about to default. The seller must obtain approval from his or her lender to sell the home for less than he or she owes on the mortgage. Short sales are also good investments because they are sold at discounted prices. However, there is no guarantee that your offer will be accepted by the seller's lender, and the closing date cannot be determined until the seller's lender approves the sale. If you don't have time to wait, foreclosure auction properties and REO's are better choices.
Buying at Foreclosure Auctions
Foreclosure auctions are open to the general public. The highest bidder is awarded the property for cash and given a deed that must be recorded with the county recorder's office. Each state conducts its foreclosure sales differently. In some states, foreclosures are conducted by the Sheriff at the county courthouse. Other sales are conducted by private trustee sales or auction companies at the property. You can buy foreclosures at online auctions, too. Some states allow the former owner to redeem the property after the sale pursuant to statutory redemption laws. You should always check the foreclosure laws of the state in which you are buying property. To find out about public foreclosure auctions, you can check the local newspaper. Also notices are posted at the private and at the county courthouse. Information is also available from many sources online.
Due Diligence
Before you decide to bid at a foreclosure auction, check the recent comparable sold properties in the area in which the home is located to make sure you are not overpaying for the property. You will want to conduct a title search to find out if there are any liens on the property. Title insurance is not available on auction properties. When you buy a foreclosure auction property, you are responsible for paying off liens and evicting former owners or tenants who may still be living at the property. Federal foreclosure laws protect tenants from foreclosure eviction. A tenant who has a lease may remain on the property through the end of the lease term and for an additional 90 days after they receive a notice of eviction. Tenants without leases may only remain 90 days after receiving an eviction notice. If you live in the area, you should drive by the property to see if it is vacant.
Also, be sure to conduct an inspection on the property the day assigned to inspections. The majority of foreclosure properties are not in good condition so you must leave room in your budget for repairs. For those of you who are handy, you can save money by doing some of the work yourself. If you are the successful bidder, you will be given a deed that should be recorded with the county recorder's office where the property is located.
REO'S
REO's are foreclosure properties that did not sell at auctions that the lenders bought back and listed with local Realtors� for sale at discounted prices. Since REO's offer less risk, REO's are very popular with first-time home buyers and new investors. They are also sold at or below market values. You can purchase title insurance, and you don't have to worry about liens. REO's are vacant so there is no issue of eviction of former owners or tenants. The best way to find REO's is to work with a local Realtor� or search online at websites like Foreclosure.com. REO's are advertised in the MLS, and you can also find them on the Internet and advertised in local newspapers. You make an offer the same as you would on a resale property, but it may take up to a week or two to get a response from the lender. You don't need cash to purchase a REO, but cash is preferred by banks because they know you will be able to close quickly.
Both foreclosure auction properties and REO's offer investors/buyers the opportunity to buy low, rehab and either sell higher or hold the property and lease it out until the market rebounds. Investors should take advantage of purchasing a foreclosure bargain property while opportunities are still available.
Foreclosure.com is one of the first real estate investment sites to be on the web. Search all foreclosure listings, preforeclosures, short sales, and rent to own homes.
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Settlement Processing and Purchasing a House After Foreclosure - True Property Value
By Ashley Adam
Are you thinking of a settlement processing? Are you considering buying a house after foreclosure? With the industry being how it is today, if you possess the hours and the money to invest, it could end up being an intelligent choice to pursue this course. Make sure you learn about exactly how to research the ideal companies for settlement processing and properties, and get help when essential so you end up getting a bargain, and not a lemon.
The first thing would be to determine in what phase of the foreclosure process you would like to buy. The typical options consist of pre-foreclosure, sheriff's auction, and the repossession stage (referred to as REO which stands for Real Estate Owned by the bank). Buying a home after foreclosure would, obviously, leave out the pre-foreclosure option.
Bank-owned properties are usually considered the safest ways to get, so they are perfect if you are not used to the foreclosure buying. Sheriff's auctions usually market the lowest priced houses, but you must have some know-how or expertise to get the good finish of the stick on these. In these cases, the houses are usually not available for inspection, so it's easy to pay far more in the end than what you thought you would have to pay for maintenance.
A repossession happens when the house had not been sold at the auction, therefore, the bank gets it back. You will most likely not acquire the best deals at this time, but at least you're going to get a clear title and an assessment and that means you will not be astonished at any unpredicted expenses, reducing expensive surprises. Another advantage is that the lenders who market these homes may have already made a few maintenance and can also offer good financing terms. While these are less dangerous bets, the properties are still usually offered in "as-is" condition. However, they may be willing to pay for a few of the fixes that are deemed necessary after the assessment is conducted. Another advantage is that these kinds of offers can go through much faster.
The significance of the house assessment can't be over-emphasized. Just be sure you take someone along with you whom you can trust to give you the full picture. In no way take too lightly the costs involved in fixing a home. In fact, you must add at least 10 % of a cushion for added repairs over what is estimated.
A great suggestion is also to purchase foreclosures in places that do not have many other foreclosures. A lot of these places will only result in a decline in the market value of the house that you acquire. An additional idea is to be certain that you're likely to obtain financing. You need to be pre-approved so that you can move fast. Furthermore, remember that being pre-qualified is totally different from being pre-approved. Pre-qualified is a part of the proper path but much more work must be completed to get you pre-approved for buying a property after foreclosure.
Settlement processing will definitely assist you in making financial and investment plans, as well as in working out good conditions with the organizations or lenders you owe money from. For your debt settlement processing needs, finding the right company to help you out will be the important decision you have to make carefully.
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The Short Sale Foreclosure Process For Investors
By Colin Andrews Egbert
This short sale 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. 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. 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.
It Starts with the Homeowner
A bank is often the lender, which lends the buyer money to purchase a home 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 with interest. 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.
Taking back the home is called a foreclosure. The short sale foreclosure process is initiated by the bank when the homeowner has stopped making payments on the home mortgage. The bank may wait an extended period of time before beginning the foreclosure, allowing anywhere from 3 to 6 months for the homeowner to begin making payments on the mortgage again. It's a messy, lengthy process and the loss mitigation officers must consider property the bank owns to be a non-performing asset. The bank would prefer not to take a property back in foreclosure.
The Bank Initiates a Foreclosure
During pre-foreclosure the trustee appointed by the bank, usually a local attorney, prepares for a foreclosure. A foreclosure is begun when the bank files a Notice of Default through a trustee with the County Recorder's Office. This notice lets the county and the homeowners know that the bank is getting ready to foreclose on their property. In short sale investing the home is now considered to be in pre-foreclosure.
The bank trustee makes every reasonable effort to contact the homeowners and let them know about the upcoming short sale foreclosure. This can be done by posting the Notice of Default on their property, sending it in the mail and also placing it in the classifieds of the local newspapers. The trustee may also call the homeowner to see if they can work out payment arrangements to get the mortgage back on track.
If the mortgage loan isn't brought up to date in this 3 month period the trustee files a Notice of Sale with the County Recorder's Office. This Notice of Sale is also posted at the homeowner's property and placed in the local newspaper classifieds.
The Bank takes it to Court
Some states require that the bank go to court during the foreclosure and sue the homeowner for their property as part of the short sale foreclosure process. This process can further lengthen the pre-foreclosure period which is a good thing in short sale investing. The short sale process can be a little lengthy itself, so the more time you have to put together a deal, the better.
The bank's trustee will have to notify the homeowners as part of the short sale foreclosure process, of the upcoming court date and ask that they show up. However, many homeowners fail to show up in court to fight for their property. Some don't know the laws very well and could even be concerned that they'll be arrested for a bad debt. This can be because they are ashamed or afraid.
If the homeowner presents a good case in court or even if the homeowners just show up and provide their foreclosure information, there is a good chance that the court will provide the homeowners with a few more months to try and catch up their mortgage or make arrangements.
The court may also decide to award the property to the bank, especially if this property has gone to court previously or the homeowner doesn't even show up to state their case.
The Property Goes up at Auction
After the bank forecloses on the property it goes to the Sheriff's Auction, also known as a Foreclosure Sale or Trustee Sale. This auction is a part of the short sale foreclosure process and can be anywhere from a few weeks to several months from the time the bank has foreclosed on the property.
There are several different popular methods for holding a Sheriff's Auction, but the most popular is held right on the courthouse steps. The opening bid on each property is often equal to the remaining loan balance that the bank is owed, plus interest accrued and any additional fees associated with the Sheriff's Auction. The county clerk auctions of the foreclosures one after the other by property number to the public. The highest bidder wins that property.
At this point, short sale investing is bunk. If you still want that property you'll need to wear the hat of a foreclosure investor and get right in there with the bidding.
When it Doesn't Sell at Auction
The auction is the last part of the short sale foreclosure process, if no one bids high enough to meet what the bank sets on the foreclosed property it is purchased by the bank's trustee and becomes a bank owned property. It is called, 'Real Estate Owned' or REO at this point and usually sits on the banks portfolio until the bank can get it sold to a post-foreclosure investor.
When an investor bids on this REO property and wins it they are winning the Trustee's Deed to the property. They become the owner and can do with the property as they wish. Sometimes the homeowners may still be living in the property after it is sold at auction in the short sale foreclosure process. In this case the new owner may wish to work out a rental agreement with the homeowners, or ask the homeowners to leave.
If the homeowners refuse to leave then the new owner can evict them. It's time to file an eviction notice with the country sheriff to start the short sale foreclosure process. Usually within 4-6 weeks the sheriff comes out to forcibly evict the former homeowners. However, eviction happens several months to a year after the bank sent the home into pre-foreclosure. Most homeowners have plenty of time to make other arrangements and have either left or are in the process of leaving when the property is sold at auction.
The short sale foreclosure process is a lengthy one, but it provides lots of time for short sale investing to take place before that sheriff's auction.
Colin Egbert is an experienced Real Estate Investor with plenty of short sale techniques [http://www.shortsaleinvesting.org] to aid fellow investors in their quest to succeed and make huge profits. He's the author of the ebook "Getting Started with Short Sales" providing the tools needed to start your own real estate investing business. Colin is also the CEO of Realestateinvestor.com [http://www.realestateinvestor.com] a website dedicated to helping investors make the most of their business.
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Timeline For Foreclosure - All 50 States
By John C Hanlin
The #1 thing that most real estate investors and homeowners facing foreclosure want to know is: "what is the timeline for foreclosure?" In other words: "how long does it take?" The answer is that the mortgage foreclosure process and timeline varies from state to state. This article provides the information and resources that you will need to find out the foreclosure laws, procedures and timelines for all 50 states.
As mentioned, each state will typically have a different set of rules and a different timeline for foreclosure.
- 20 states utilize only "Judicial" Foreclosures.
- 5 states and the District of Columbia utilize only "Non-Judicial" Foreclosures.
- 25 states utilize both Judicial and Non-Judicial Foreclosures.##
I. JUDICIAL vs. NON-JUDICIAL FORECLOSURES:
The primary difference between the two classes of foreclosure is the involvement or non-involvement of the court system. As you might have guessed, Judicial Foreclosures are processed through the courts. Non-Judicial Foreclosures are not.
Regardless of the type used, the timeline for foreclosure is always preceded by a borrower defaulting on their mortgage payments. Most lenders typically won't threaten homeowners with foreclosure until two or three payments have been missed. However, once the lender concludes that the mortgage is in default and the homeowner is not going to catch up on their overdue payments, a legal filing is made by the lender and the timeline for foreclosure begins.
A. JUDICIAL FORECLOSURES:
In a Judicial Foreclosure, the lender files a formal complaint with the court and records a legal notice of "Lis Pendens". The complaint must state the details of the debt and why the lender should be allowed to foreclose on the property. The Lis Pendens gives public notice that the house is the subject of foreclosure proceedings and implements the legal timeline for foreclosure.
If the court rules that the debt is legitimate and in default, it will send a notice to the homeowner demanding payment of the amount owed (plus penalties and foreclosure costs). The borrower is typically given 30 days to respond and satisfy the debt. If they do not, the court will tender a judgement in favor of the lender, instructing that the home will be sold at a "Sheriff's Sale" auction.
After the judgement is entered, in most states that utilize Judicial Foreclosures, the homewner has about 90 days prior to the Sheriff's Sale to pay the entire amount owed and stop the mortgage foreclosure process. There are other alternatives that could stop the timeline for foreclosure during this 90 day period:
- Negotiate a "Forbearance Agreement" with the lender that revises the loan terms to the satisfaction of both parties. (Most lenders do not want to foreclose because it can cost them a lot of money.)
- Sell the home.
- Refinance the loan.
- Declare bankruptcy.
How long does the Judicial Foreclosure process take?
This is almost impossible to predict. The judicial timeline for foreclosure is entirely driven by the court schedule and literally "at the mercy of the court". However, most experts will agree that Judicial Foreclosures can often take more than a year to complete.
Important Note: Even after a home has been sold at the Sheriff's Sale, some states will allow an opportunity for the homeowner to regain ownership of their home. This is known as a "Redemption Period" and is a period of time after the mortgage foreclosure process has been completed. Even though the property now will have a new owner, the former homeowner can still reclaim title to their home by paying off the full amount of their original home mortgage plus penalties and foreclosure costs.
B. NON-JUDICIAL FORECLOSURES:
Also known as "Power of Sale" Foreclosures, Non-Judicial Foreclosures are conducted outside of the court system by either a third party "Trustee" or an attorney. This mortgage foreclosure process is used when a "power of sale clause" exists in a mortgage or deed of trust. This clause states that the borrower agrees to the sale of their property to pay off the balance of their home loan in the event of a default.
As with Judicial Foreclosures, most lenders will not begin the Non-Judicial Foreclosure process until several payments have been missed and they are convinced that the homeowner is not going to catch up on their overdue payments. However, once the lender determines the borrower to be in default, a legal filing is made by the lender and the timeline for foreclosure will begin. This filing is known as a "Notice of Default" (NOD).
After the NOD is filed, the homeowner typically has a 90 day "Reinstatement Period" to catch up on missed payments and stop the foreclosure before the lender can take further action. There are other alternatives that could stop the timeline for foreclosure during the Reinstatement Period:
- Negotiate a "Forbearance Agreement" with the lender that revises the loan terms to the satisfaction of both parties. (Most lenders do not want to foreclose because it can cost them a lot of money.)
- Sell the home.
- Refinance the loan.
- Declare bankruptcy.
If the mortgage foreclosure process isn't stopped, the property goes to a "Trustee's Sale" where it is auctioned off to the highest bidder and extinguishes all rights of ownership of the defaulting homeowner. If no one purchases the property at the auction, the title to the home reverts to the lender and it becomes what is known as an "REO Property". This stands for "Real Estate Owned" (by the bank or lender).
Important Note: Similar to Judicial Foreclosures, after a home has been sold at the Trustee's Sale, some states will allow an opportunity for the homeowner to regain ownership of their home. This is known as a "Redemption Period" and is a period of time after the mortgage foreclosure process has been completed. Even though the property now will have a new owner, the former homeowner can still reclaim title to their home by paying off the full amount of their original home mortgage plus penalties and foreclosure costs.
THE BOTTOM LINE:
Regardless of the mortgage foreclosure process used, it is very important to know the laws and procedures for your particular state. To help with that, here is a link to the Foreclosure Process: All States.
The author, John Hanlin, recently published the HOT NEW E-BOOK: "The LazyMan's Guide to Understanding Foreclosures & REO Property Investment". Click here for info [http://lazymancompany.com/Order_Guide.html].
Mr. Hanlin is an Independent Investors' Consultant who provides FREE investment advice on his website:
http://www.JohnHanlin.com where you can sign up for a copy of his FREE Special Report: "The Safest High Yield Investments You Can Make Today".
You have full permission to reprint this article provided it is kept unchanged and all author information above remains intact.
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Foreclosure Investing - Non-Judicial Foreclosures Vs Judicial Foreclosures
By Hunter Craig
There are two main types of foreclosure processes - judicial and non-judicial. While the end result is similar - both properties are foreclosed and sold at auction - the methods are different. One uses the court system and Sheriff's Sales while another doesn't and uses Public Trustee Auctions.
For more information on the difference between a judicial foreclosure and a non-judicial foreclosure, keep reading.
Judicial Foreclosure
Because judicial foreclosures need to go through the court system, they typically take much longer than non-judicial foreclosures. To start the process, a lender will file a "Motion to Foreclose" or "Complaint of Foreclosure" with the courts.
The court will then set a foreclosure hearing and then make a final judgement. After the judgment, a date will be set for a Sheriff's Sale and the notice of sale will be publicly posted. If no one purchases the property at that point, it returns to the lender and becomes a REO (real estate owned) property.
In some states, homeowners have what's called a redemption period with a judicial foreclosure which can be as long as six to twelve months. This means that within that period, even when the house is sold at auction, if the homeowners can come up with the money to settle their debt, they can get their house back.
Non-Judicial Foreclosures
With non-judicial foreclosures, lenders will still have the property auctioned but do not need to go through the court system. In this situation, the property was secured with a deed of trust, and this will typically have a power of sale clause written into it.
Without a power of sale clause, the lender needs to file a public Notice of Default (NOD) to the court and all the pertinent parties. At the point, a sale or auction is then scheduled and a public Notice of Sale (NOS) is then posted.
The property is subsequently sold at a public auction and will go to the highest bidder. Again, if the property isn't bought, it becomes an REO or real estate owned property and continues to belong to the lender.
Depending on your state, the foreclosure laws can differ dramatically. For example, in Connecticut, a lender needs to post a Decree of Sale with the bank and seven months must pass before the property can actually be sold. Meanwhile, in Louisiana, homeowners may only get three days notice before their Notice of Default is issued.
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Bank Owned- REO- Foreclosure- Pre-Foreclosure- Short Sale- Sheriff's Sale - Explained
By Aaron Dickinson
- Bank Owned
- The bank has acquired title (ownership) to the property. The bank is the seller.
- REO or "Real Estate Owned"
- Can be read simply as "bank owned"
- Corporate Owned
- Many times this is just another way to say "bank owned"
- Foreclosure
- This is the process by which a lien holder aquires the property through court procedures. Each state operates a little differently, but this process can typically take several months once started and typically does not start until the owner is 60-90 days behind.
- Pre-Foreclosure
- This is commonly referred to as the time during the foreclosure process but before the sheriff's sale. In this time period you are still negotiating with the seller but the bank may have to be consulted in cases where a short sale is needed.
- Short Sale
- When a seller is in a distressed situation and the offer that is submitted does not cover the expenses to sell the home and pay off the lender, the seller may ask the bank to take a "short payoff" on the loan, meaning to accept less than what was owed. Banks will sometimes do this because they do not want to own homes, they want to make loans. Each circumstance is different and the bank is not required to accept any short payoff.
- Sherriff's Sale
- In Minnesota, the foreclosure process finishes with a "sherrif's sale" of the home. The county sherriff holds an auction where all interested parties make a bid for the home. Most often a representative of the bank is the only bidder for the home.
- Redemption Period
- In Minnesota, this is a 6 month window from the date of the sheriff's sale that the property owner can still occupy the home and if they can get the cash or funding, they can pay off the entity that bought it at the auction (most often the bank) and keep the home.
Aaron Dickinson, an agent with Edina Realty in the Twin Cities, works with buyers and sellers throughout the metro area. He also regularly posts commentary on the market in his Minneapolis Real Estate Blog.
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Commonly Used Foreclosure Terms and How They Affect Your Property
By Nick Heeringa
Most people, even those in foreclosure, do not understand the foreclosure process and how it effects their exact situation. There are many steps in the process and each state and county can handle foreclosure differently from the next. Because of this, it can be very complicated for the victim. Many people seek advice from the Internet, but they find outdated information, or information that is not relevant to their situation. In any foreclosure case, getting a professional review is recommended, from a qualified agent who works in your state. This can eliminate any questions or misguided information. For the purpose of this article, we will simply be explaining the different actions that may happen throughout the legal process of mortgage foreclosure.
Obviously, by missing a mortgage payment, the homeowner forces the lender or servicing company to begin the collections and the foreclosure process. There are many other reasons a home can be foreclosed on, such as taxes or other court orders, but for the most part, it is because of missed mortgage payments. Once a payment has been missed, the collection process starts. Most mortgage contracts have an acceleration clause, which allows the lender to demand payment of the entire mortgage once you begin to miss payments. Once this clause has been evoked, the homeowner will owe the lender for the entire mortgage balance, missed payments, late fees, and legal fees. In most cases, though, the lender only wants the mortgage to be brought up to date. They want the total arrears, which is the missed payments and the extra legal and late fees. The lender will no longer accept your payments at this point, unless you are able to payoff the full arrears.
While this is happening, their attorneys are also filing a lis pendens with the local courthouse. Most people consider this filing the official beginning of the foreclosure process. A lis pendens is a notice to the court that a legal action is taking place and it essentially prevents the owner from selling or obtaining additional liens against the home until the lawsuit is settled. This notice is also provided to the owner and is published in local newspapers.
In a judicial state, you will be provided time to defend your case, or pay the arrears in full to settle the case. During this time, you could also work with the lender to establish a loan modification or repayment plan. If you can prove that the home is affordable under a new payment plan, the lender should be willing to work with you. If the court rules against you, a sale date will be set; this is usually called a Sheriff's Sale or Trustee Sale. This is where the home is sold at public auction and the proceeds are used to pay off any liens against the home.
Many states offer a redemption period, where the home can be purchased back, even after the sale. If you live in a state with a redemption period, you must be able to pay sale price in full to redeem your home. This is usually very hard, because getting a new loan after foreclosure is nearly impossible. You will need to find cash to purchase your home back.
After the sale and any redemption period, the owner must move out of the home and the new owner will take possession. If they refuse to move, they will be evicted. In most cases, the previous lender buys the home at the auction and the home becomes a REO (Real Estate Owned) property. They buy the home at the auction so they can sell it on the open market for a higher price. In today's market, lender are becoming more reluctant to buy these properties, because they are responsible for taxes and upkeep until the home is sold.
Another term that is often heard with foreclosure is short sale. A short sale is when the lender allows the owner to sell the home, at a loss, before the sheriff's sale takes place. When a lender allows a short sale, it is because they don't want the property and they would rather get rid of it as soon as possible. Even though it may seem like the lender loses money on a short sale, in the long run, the lender probably saves thousands.
Foreclosure is a very complicated process and every situation is slightly different, so if you are facing foreclosure, make sure you find information that works for your situation, or better yet, find someone who can provide specific help for your situation. You should always seek professional or legal help when facing foreclosure, so get a foreclosure evaluation today from a source that you trust and learn more about your options for saving the property.
The ForeclosureFish website has been created to provide homeowners in danger of losing their houses with relevant and important resources they can use when stopping foreclosure or defending against the bank's lawsuit. The site describes dozens of methods to do this, including stopping a sheriff sale, beating the bank in court, refinancing, selling, filing bankruptcy, and more. Visit the site for a complimentary e-book explaining the basics of foreclosure and how to recover your finances after missing mortgage payments: http://www.foreclosurefish.com/
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