Foreclosures.com

foreclosed homesAs banks are foreclosing hundreds of thousands of properties across the country, the question keeps arising, “Can banks make profits on foreclosed properties?” The simple answer is yes, but it does take some special circumstances for it to happen. Foreclosed homes can vary from a regular home purchase, and you will want to research all loan products available for this type of transaction, including traditional loan products or an FHA 203(k) Renovation Loan (a mortgage that provides the purchase price plus funds for renovation by financing the as improved” value of the home).

Lamudi features just about every type and price of foreclosed properties for sale in the Philippines, from a 244 square meter foreclosed farm lot in Bulacan listed for as low as Php26,000 to a 2.44-hectare lot in Tagatay good for either residential, commercial, or industrial use and priced at around Php6.1 billion.

Lenders don’t want to spend …