Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

James asks…

Foreclosures?

How many foreclosures are in your town or city? Ours has an extreme amount for its size, yet the realitors keep over pricing homes. It makes no sense. This seems to have become the norm throughout this area, yet no one seems to be disturbed by it. Wouldn’t it make more sense to price homes at a reasonable amount that people could afford payments for? It seems to me, that would put an end to a majority of the foreclosures.
Thank you for the answers, the majority were very informative, and made a lot of sense. Unfortunatey, to read over all the paper work at closing would either entail an amazing amount of time and patience or a fantastically educated speed reader. They don’t give the average garden variety person (or couple) the amount of time needed to pour over the paperwork they ask you to sign. Plus, unless you’re a realitor or someone who knows about realistate laws, you really don’t know what your looking at to begin with. (Yes, I’m sure there are some misspellings here, give me a break, its late, and theres no check spelling button for the details)

Your Questions About Foreclosures

The Expert answers:

Foreclosure information?
Very good advice Here:
http://www.foreclosureinfousa.net

Your Questions About Foreclosures

William asks…

Foreclosures!!!!!!!?

I have a house, I plan to sell soon. What are foreclosures? what are the Pro’s and Con’s? is it worth it buying and living in one?

Your Questions About Foreclosures

The Expert answers:

A foreclosure is just a home that has been released back to the bank for non-payment. The pros would be that you could most likely get a discount on the home considering the bank would like to get rid of it asap. The only con is that getting lending for these homes I believe differs a bit in that you can only get a conventional loan on them. I may be wrong about that, but this is what I recall.

Your Questions About Foreclosures

Sandra asks…

foreclosures?

is there a free site that does not ask for credit cards that you can look and see where any foreclosures homes are?

Your Questions About Foreclosures

The Expert answers:

Go to your county clerk or court house and ask for a listing, they are usually free.

Those websites are taking information that is available for free and placing it on the internet to make money.

They are charging, because they did the leg work to get it from the county clerk or courthouse and to maintain the website, plus make a profit.

If you don’t want to pay, you have to go to the court house/clerks office yourself and do the legwork. This is the best way to get brand new listings. Websites can take a while to make updates and by that time it could be too late.

Your Questions About Foreclosures

Helen asks…

Foreclosures?

what does it mean by the term ” Foreclosures homes”
why is it very cheap?

that is cheaper than regular homes for sale

Your Questions About Foreclosures

The Expert answers:

Foreclosure is a process in which the banks take back the home because the owners are not paying /have not paid their loans.

If the property is still owned by the owners, the theory is that they are willing to sell their home cheaper than what’s available in order to sell before the bank owns it.

If the property is owned by the bank, the theory is that the bank will sell it cheaply to get rid of it or because there is damage from the owners or both.

The reality is that just because the home is in/or has been foreclosed on doesn’t mean it’s a great deal. Just talk to a real estate agent and state that you’re looking for an undervalued home.

Regards

Your Questions About Foreclosures

Maria asks…

Foreclosures?

Can someone really buy foreclosures for pennies on the dollar?

Your Questions About Foreclosures

The Expert answers:

Unless you have thousands…. No. There are taxes, insurance, underlying loans, judgements, liens, etc. Why else would they be sold for so cheap??? You don’t have the whole story!

You may find a property in BF SomeWhere delinquent in property taxes are minimal, but what they don’t tell you is there may be more liens (loans).

Buyer beware!!! Unless you have someone provide you with a title report prior to buying this home for a measely $500, it may also come with a $150,000 first position lien from Contrywide for the previous owners underlying loan.

You aren’t going to get rich quick. By any means. Do your research BEFORE buying these homes. Due dilligence is your savior.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures