Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

John asks…

Is there a particular STOCK that targets the investing of foreclosed homes?

The sale of foreclosed homes is booming in this depressed market. Is there one stock in particular that targets this?

Your Questions About Foreclosures

The Expert answers:

The best way to invest into this market would be to look for mutual funds that invest heavily into REIT’s (Real Estate Investment Trusts). That way your money is spread out over several real estate investments so if a few fold you will retain the bulk of your money. Most of the on-line broakerage firms like Scottrade have research platforms where you can search and compare various mutual funds. Look for funds that are heavy into the real estate sector and compare those to each other. Select a fund that has good diversification and one that has at least 40 % of the money into corporate securites or government T-bills to preserve capital in case the entire real estate sector drops again. Otherwise, take your money and buy a couple of properties that you believe are located in a marketable location and sit on it for a long time until the market comes back.

Your Questions About Foreclosures

Mary asks…

How do you buy foreclosed homes?

How do you go about buying foreclosed homes?

Your Questions About Foreclosures

The Expert answers:

Most of the time a forclosed home is because of non payment of Taxes or non payment of mortgage. Try going to your bank, they have homes that they have repossed, county or cloest court house . I say county because all of your business can be done in the same building. There is also a website that list homes that are about ready to be foreclosed on. I have seen these situations work out really well depending on what the seller wants.

Besides your cort house and the bank, try
www.realtytrac.com

The court house should have a basic form/booklet that you may have to pay a small fee for, to fill out and have the transaction legal. And if your still not sure, consult a Real Estate Attorney for a consultation.

Your Questions About Foreclosures

Sandy asks…

Why are Jews buying foreclosed homes for under 20% of the price?

Three houses in my nighborhood were bought by a certain Yehude Feldmann. Each one of those homes were originally between 400K and 500K. They were foreclosed and Mr. Feldmann bought the three for 260K.

How is that possible? Why can one single person buy a whole neighborhood for cheap this way? Is that even legal?

Your Questions About Foreclosures

The Expert answers:

Jews????? EVERYONE is buying foreclosed homes nowadays, and you seem paranoid and racist!!!!

Your Questions About Foreclosures

Richard asks…

Where can you find free listings of foreclosed homes in your state?

I have been searching foreclosed home but everywhere I go there is usually a free trail or pay 39$ well is there somewhere you can go to find free listing of foreclosed homes in your area?

Your Questions About Foreclosures

The Expert answers:

Any real estate agent can get you a list, although most states will be broken into specific areas.

Your Questions About Foreclosures

Maria asks…

Where To Find a List of Foreclosed Homes?

Hello, I am a real estate agent in Long Beach, California. Where can I find leads on homes that are foreclosed or are about to be foreclosed?

Your Questions About Foreclosures

The Expert answers:

I think the last guy meant RealtyTrac. That is good, but after 1 week its $50 per month – which is a waste of time. You can go into the individual bank sites to find properties that are already bank owned (they have gone through the auction process) just type REO or Properties in the search part of each website.

With buying foreclosures at auction try www.recontrust.com and they will have a listing of sale dates upcoming. The thing with buying a property at an auction is that you may not get clear title – there may be outstanding tax, hoa liens that you will be responsible for – so doing your research prior to the sale is key. You also need to be able to give a down payment and be able to have funds to pay for the home.

Because many people being foreclosed on purchased their homes with 100% financing in most cases you will be bidding against the bank – and usually they win.

You can also get in touch with any local Realtor in your area who specializes in Foreclosures and they should be able to help you – you don’t pay their commissions – the banks do.

Thanks,

Tamara

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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