Foreclosure

Foreclosures, Short Sales, and REOs Oh My!


With so many Americans facing foreclosure today, it is important to know what the process is and all of the details relevant to the subject. This article is for the purpose of explaining, in detail, the foreclosure process and short sales and the process and procedures that must be followed for both subjects.  We will address how sellers end up in foreclosure, ways to avoid foreclosure, alternatives to foreclosure and anything else that is pertinent to foreclosure. SHort sales in rela estate are an alternative for foreclosure and the positive side of short sales is the fact that many people, including astute investors, make a lot of money investing in homes about to go into foreclosure. Another subject in this article is REO investing as it is closely related to the other subjects...

Tips to Avoid Foreclosure

Many are facing a situation that has become the “norm” in the last few years and that is the potential of having our homes foreclosed upon at any time. You purchased a home a few years back, refinanced when you thought the time was right, and now you can’t keep up with the payments, and, the property has dropped in value putting you “underwater.” You might be one of the millions of at-risk people with a sub prime adjustable rate mortgage (ARM) whose interest rates will soon reset to much higher percentages in a short time, or you have a different more un-conventional type of loan. You may even have your mortgage payments up to date but are worried about getting layed off soon.  “A good portion of the people we see are folks who received loans they never should have gotten in the first place,” say many credit counselors. Many states have also posted advice for distressed homeowners on their attorney general, banking department,...