Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Sandy asks…

Is it possible to qualify for a home loan with 2 foreclosures and a friend with 720+ credit score?

Much to my dismay, I am part of the foreclosure community. After 2 years of perfect payments on rent and car loan, my score has crept up to a 670. Would it be possible to obtain a home loan with a friend who has a 720+ credit score.

Your Questions About Foreclosures

The Expert answers:

I just read an article alittle bit ago, it might be helpful. Here is the address link…… Good Luck!!

Http://realestate.yahoo.com/promo/low-mortgage-rates-7-things-you-need-to-know-to-refinance.html

Your Questions About Foreclosures

Donna asks…

Where are the majority of foreclosures coming from?

I am hearing it is becuase so many people are losing thier jobs. I am hearing it is because of sub-prime loans. Anyone close to the situation, real estate agent, mortgage folks and the like, please give me your take.

Your Questions About Foreclosures

The Expert answers:

Over 400,000 in California, thats the largest amount of foreclosures by state

Your Questions About Foreclosures

Maria asks…

How can I invest in foreclosures without cash?

There is a book about this topic. I don’t understand how this could work.

Your Questions About Foreclosures

The Expert answers:

Hard Money Loan……
Many hard money mortgages are made by private investors. Often in their local area. Usually the credit score of the borrower is not important. The loan is purely against the collateral of the property. Typically the maximum loan to value is 65-70%. That is, if the property is worth $100,000 you can borrow $65,000-70,000 against it. This low LTV is to cover the lender if the borrower does not pay and they have to foreclose on the property.

You can do more research on hard money loans. There are many hard money loan lenders.

I hope this helps.
BEST WISHES!

Your Questions About Foreclosures

Jenny asks…

How do go about finding foreclosures in my area?

Ive heard there are sites for which I can pay a fee and get the listings. Does anyone know which sites are the best ones?

Your Questions About Foreclosures

The Expert answers:

Best way is probably to find a good buyer’s agent that works the market. This kills two birds with one stone without costing you anything. That buyer’s agent should know which ones aren’t scams and should be paying for them out of their pocket as a way to attract business. Because the fresher you hit them, the better your chances are!

Your Questions About Foreclosures

James asks…

What is the best website to use to gather information on foreclosures?

My husband and I are looking to buy a home, and I know that it is possible to get a good deal by purchasing a foreclosed home. However, every website wants some sort of membership before I can view the homes. Has anyone ever tried a site like this before? I am wary of websites wanting any credit card information unless I know they are credible.

Your Questions About Foreclosures

The Expert answers:

The best way to find “foreclosed homes” is the 1) find a realtor who is willing to help you find that type of house (they have to be willing to take a smaller commission) or 2) go directly to the banks in your area and ask for a list of their properties that are in foreclosure.

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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