What is the process? or how tough is the process of buying a foreclosed home?
In many cases a Home in the final stages of foreclosure, will be presented for auction on the steps of the county courthouse.At the listed time of Auction( generally silent,) an interested investor can purchase a subject property for the deficiency mortgage lien, plus all applicable fees, and encumbrances; property tax, etc.
The problem here, is that more often than not, a home property will be retracted from auction, without prior notification; due to a stay of foreclosure.
An simpler, mostly trouble-free methode of purchasing a foreclosed property, is to negotiate an institutional R.E.O ( Real Estate Owned,) through an Agent of choice. The advantages of this tack to the prospective investor are many.
You are working with a known $ threshold of consideration; provided by the institution. And, once a home has been fully foreclosed on by the 3rd party, there is no recourse( cure) time-line, extended to the party of the deficiency.
by Ambyotic 6 years ago
What is the best way to find a cheap house to purchase?
by S4Bum 7 years ago
My home foreclosed in a non judicial foreclosure, yet now, a year later I am getting collection...agency notices for "series 2006-NC3 asset-backed pass-through certificates" on belhaf of wells fargo, who was not the original note holder. How are they able to do this?
by daisynicolas 6 years ago
If you are a first-time homebuyer, would you buy a foreclosed property?
by Sekharg 7 years ago
I see lot of houses for sale.I heard interest rates are lowest.Is it a good idea to buy a house now?What do you think?
by GL Bell 8 years ago
Just saw this on morning news...If this is true than we have seen nothing yet...
by Julianna 6 years ago
After foreclosure how long do you have to wait before purchasing the next home?
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|