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l am interested in purchasing foreclosure real estate, but l do not know where to find the lists of foreclosures.Please help me!
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l am interested in purchasing foreclosure real estate, but l do not know where to find the lists of foreclosures.Please help me!
Foreclosures are a fun investment venue but also quite risky. Make sure you know what you're doing before you step into the fray. Know how to do your due diligence and what not.
For foreclosures, I access this web site:
investingwithoutlosing.com
I also bought the book below.
u call banks or key word search mortgage lenders. u call the mortgage department & ask to be provided the REO listings. u can go to the small lending institutions like household finance etc. they will provide u with the list of houses they have on the books to sell. there r a few sites that will give u the list for subscription rates. i use a few. the trick is when u see the information call the lender of record & verify that the house still is in the possession of the foreclosed party. mistakes happen. i am a mortgage broker commercially, & i do handle residential. i never have a listing of foreclosed home in my possession to hand out, or sell. there is also always one realtor on ur town who specializes in foreclosed property, the banks have a preferred relationship. u can call around to the various real estate offices & ask for the foreclosure departments or what realtor has the largest inventory. the foreclosure market is picking up dramatically, but if u r thinking u will get houses for $30,000 think again. when the rates hit the all time low everyone refinanced & took out the equity so the prices r not steals at this moment. that does not mean u r not getting a great buy, just look at the market, & after u buy & figure out the rental rate or the retail rate, who will buy it? can u qualify ur borrower in the zone u purchased? Good Luck
There are multiple online sites that sell a subscription service to the default notices filed in your area.
Be very careful buying foreclosures.the laws are designed to protect the homeowner.not the buyer.
Here is some additional info. Hope this helps.
Your local Real Estate office subscribes to the REGISTRY but that is for Agents and Brokers. Get a relationship with an Agent and they will keep you informed
I do not know but I sure would like to!!!!
Most sites are paid subscription sites that let you kow when a home is about to be foreclosed because the home owners are delinquent in their mortgage payments, or from other extenuating factors. There are three major types of listing sites: government/auction, 3rd party foreclosure (e.g., realtytrac.com), and sites run by real estate companies or banks that have REO departments.
They can usually be obtained from companies or counties.
Check the internet.
There is not one, the closest thing to it is the MLS. Contact a broker (I personally avoid agents).
Since foreclosure is public information it is published in the local newspaper. It is usually part of the classified, but this is local information only & is only when foreclosure is filed, not actually happening.
There r a couple ways these r sold, through the MLS, or through public auction. The auctions literally take place on the court house steps. Bring an agent with you, otherwise u do not stand a chance, it is ugly.
hud.gov
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