Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Carol asks…

Tax sale and foreclosure homes.?

I have 9,300 dollars in my savings, I will like to move into a real nice home. I saw a informercial, that got me all hyped, it said that I could by a foreclosure home for $300 up to 10,000. is this true and if so is it possible I could get a nice big home in a nice neighborhood.

Educate me please

Thanks 😉

Your Questions About Foreclosures

The Expert answers:

You probably saw the infomercial Free and Clear. They supposedly teach you how to buy property at tax sales and tax lien certificate sales. Government sales that are held when property owners don’t pay their property taxes. Buying a house for 300 dollars happens all the time. It’s just depends what you think buying means. Put it this way. You can go to a tax lien auction and buy a 100k house for 300 bucks in Louisiana. Now the tax debtor(homeowner) has 3 years to redeem his property by paying the back taxes and interest (1% a month + a 5 percent penalty). Do most properties get redeemed? Yep? But not all. And that is the trick. Finding the ones that won’t get redeemed. But did the house sell for 300 bucks? You bet. At tax Deed auctions. Where you buy the property and there is no redemption period. There are lots of people there with 10k looking to buy 100k houses. The problem for those people is there are people with 80k and 90K there looking to buy 100k properties. Can you get a good deal. You bet. But you have to kiss a lot of frogs. If you want some more info check out the source below. All the information you need to find out about tax sales and foreclosures are free and conducted by government agencies

Your Questions About Foreclosures

Joseph asks…

What percentage of for sale homes in the US are in foreclosure?

Your Questions About Foreclosures

The Expert answers:

There are plenty of statistics on the web. My guess is, that from about 120 Million homes in the USA, 15 Million are on sale and 1 Million are or will be soon in foreclosure.
Now, the exact numbers may vary, but how exact are they?
For instance, banks don’t like to get into foreclosure sales, they rather make a deal before. Some Owners opt for running away, leaving the house behind, some houses just stay there, like 76,000 in Detroit, unoccupied, falling apart.

It’s really all meaningless, because statistics can be trimmed, by whichever political party is in power.
That is how Bush covered up, that the housing market was in bad shape since 2004, when he signed a bill, that people can get a mortgage without a penny down payment.
That was the beginning of the end.

Your Questions About Foreclosures

Daniel asks…

what website can i go to to look at hud homes/ foreclosures/ homes for sale for free?

Your Questions About Foreclosures

The Expert answers:

Foreclosed homes are listed for sale just like any other home. Http://www.realtor.com now specifies which homes are REO (foreclosed).

Your Questions About Foreclosures

Donald asks…

Best website(s) to find foreclosure homes?

or even homes for sale, but i preffer foreclosure homes. Im looking for homes in south florida

Your Questions About Foreclosures

The Expert answers:

Usually banks have them in their webpage. Look for houses own by the bank.

Http://realestatecenter.bankofamerica.com/pages/map-search

Your Questions About Foreclosures

George asks…

where do you find lists of homes for sale due to foreclosure in your area?

Your Questions About Foreclosures

The Expert answers:

You can find fha foreclosures at www.hud.gov They are currently government owned and being auctioned off. The site is free, and you can click on any state and it will direct you to the management company that’s selling the properties for that state, where you can search through the listings. These are only the FHA foreclosures though, realtytrac.com is your next best bet for all types, though the FHA seem to be the cheapest.

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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