Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

James asks…

Where can I get information about foreclosure and short sell homes?

My credit score is between 650 and 670. I am planning to buy a house with my husband and his credit score is above 800.
Are foreclosure homes better deal?

Your Questions About Foreclosures

The Expert answers:

There are many places to find foreclosure properties, but I would start by going to your bank and finding out how much they will allow you to spend and if they will lend money to you on a foreclosure property. When you are buying foreclosure properties, you’ll need to have the money available very quickly. In some cases, you’ll need to write a check for the home the same day. You’ll need to have all the details worked out with your lender ahead of time, so this is possible.

If you don’t intend to buy a home at the sheriff’s sale, then you’ll be looking for Pre-Foreclosures or REO Properties. These are properties that the bank has already bought back from the sheriff’s sale (REO) or properties that have not gone to sale yet, but are in default (Pre-Foreclosure). In either case, the owner (the bank or the individual in default) may be trying to sell the property as quickly as possible. The home may be listed with an agent, or it could be for sale by owner. Either way, these are usually considered “distressed” properties and should be selling under the current market value.

Right now, because of the real estate market, you can buy just about any house under it’s market value, so don’t just limit yourself to foreclosure properties. Make sure you find a home that you love and one that doesn’t need a lot of repairs.

If you would rather find something that needs repairs and fixing, so you can trade your own labor for a great deal, then you’ll want to contact local real estate agents and ask if they have any “fixer uppers” or foreclosure properties that need work. You can buy these home for much less than they would be worth in good condition. But make sure you do a complete inspection before buying, so you know what you’re getting into.

Be careful when getting into the foreclosure market, there are many people who have lost money buying foreclosures, and there is a lot of fraud in this industry. Make sure you only work with a reputable company who has specific experience with foreclosure properties.

Your Questions About Foreclosures

Jenny asks…

How do I find short sales or foreclosure homes in my area?

Everyone says to buy my first home as a short sale or foreclosure, but I am not sure how to find these properties. Do people really buy them or do they just go on market like regular homes?

Your Questions About Foreclosures

The Expert answers:

It would help if I knew what state you were in. Or looking in. Please let me know and I can give you more detail.

Your Questions About Foreclosures

Ruth asks…

Where can I go to buy foreclosure homes from the bank?

I’ve been told that I can buy foreclosure homes from the bank but I went to a Bank of America and he said that the only way to buy one is from a third party. Is this true or was he just dumb lol. I’d rather buy straight from the bank.

Your Questions About Foreclosures

The Expert answers:

Only smaller local banks will deal with you. The larger lenders such as BoA will ONLY deal through real estate brokerages. Don’t waste your time with the big lenders.

Your Questions About Foreclosures

George asks…

How does one find out about Big Canoe Georgia foreclosure homes?

Trying to get a list of homes currently in foreclosure at Big Canoe.

Your Questions About Foreclosures

The Expert answers:

I can help you. Please send me your email address off line and I’ll send you the most current list of foreclosures.

Http://www.georgiafoothillsrealty.com

Your Questions About Foreclosures

Richard asks…

What websites can Iook at to find foreclosure homes in my area?

I have been looking for websites with foreclosure homes in tn and every time i find one they say you have to pay to look at pictures and the address. If anyone knows any website with foreclosure homes that you can look at the address and picture of the home can you please tell me? Thankyou

Your Questions About Foreclosures

The Expert answers:

You can use GovernmentAuctions.org – they have a comprehensive list of foreclosures and they let you search within your area if you punch in your zip code. They have a 3 day free trial and you can use the entire site to look for anything. I have found some cool items on the site as well as my last car. There are tons of homes on there!

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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