What Is Foreclosure?

foreclosure homesMost foreclosure relief companies offer one, two, or maybe a handful of various options that homeowners can use to stop foreclosure. Between clearing the title, performing necessary repairs, following the complexities of state-to-state foreclosure regulations and dealing with the many other foreclosed properties on their slate, lenders can move maddeningly slowly from a buyer’s perspective.

Recently, the media was flooded with complaints from people who spent thousands of dollars in bidding for assets through a newly-launched online foreclosure auction, but later discovered that the assets they bought were just tax liens and not properties.

For homeowners in these two states, facing strict foreclosure can be a harrowing event, as all of their equity will simply be transferred over to the lender, which will then be able to list the property on the market and take all of the profits as their own.

Hardly a week goes by that I don’t have a buyer contact me to inquire about a home listed in pre-foreclosure” on Zillow or RealtyTrac I believe websites that promote pre-foreclosure listings are doing a huge disservice because buyers are confusing what is available inventory and what is not.

Tour the neighborhoods in which you’d like to buy and check for real estate signs; you’ll likely see some marked Foreclosure” or Bank Repo.” Call the agents whose names are on the signs and ask about other foreclosure listings that may be coming on the market — you just may get a jump on other buyers by asking about new foreclosures not yet listed.foreclosure homes