When Banks Change The Locks On Your Home Before The Foreclosure Sheriff Sale

foreclosed homesToday, Home foreclosure is one of serious problems that most of the homeowners face. A home you buy at an auction might have a lien on its title from a government agency, especially if the former owners stopped paying property taxes on it. In addition, a home bought at auction might require expensive repairs. If you are on those who would like to invest in foreclosed properties, one tip and info you need to know is where you get information on home foreclosures.

The first thing they do is send a certified real estate appraiser to the property to determine a fair market price based on comparable homes sold in the area and any defects that may be present in the home. On failure of the mortgage payment on the house, the lender initiates for the foreclosure and sells out the house to recover the amount owed by the loan.…