Finding Foreclosures


    Investing in Real Estate

    Foreclosures

    How
    do I find a foreclosed property?

    In most states, a
    foreclosure notice must be published in the legal notices section of a local newspaper
    where the property is located or in the nearest city. Also, foreclosure notices
    are usually posted on the property itself and somewhere in the city where the
    sale is to take place.

    When a homeowner is late
    on three payments, the bank will record a notice of default against the
    property. When the owner fails to pay up, a trustee sale is held, and the
    property is sold to the highest bidder. The financial institution that has
    initiated foreclosure proceedings usually will set the bid price at the loan
    amount.

    Despite these seemingly
    straightforward rules, buying foreclosures is not as easy as it may sound.
    Sophisticated investors use the technique so novices may find themselves among
    stiff competition.

    · Are foreclosures a good investment?

    · Are there different types of foreclosures?

    · How do I find a foreclosed property?

    · How does HUD affect my buying a foreclosure?

    · Where do you find government foreclosed homes?

    · Can I get financing on a foreclosure?

    · What are trustee sales?

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