Finding Foreclosures

Investing in Real Estate

Foreclosures

How
do I find a foreclosed property?

In most states, a
foreclosure notice must be published in the legal notices section of a local newspaper
where the property is located or in the nearest city. Also, foreclosure notices
are usually posted on the property itself and somewhere in the city where the
sale is to take place.

When a homeowner is late
on three payments, the bank will record a notice of default against the
property. When the owner fails to pay up, a trustee sale is held, and the
property is sold to the highest bidder. The financial institution that has
initiated foreclosure proceedings usually will set the bid price at the loan
amount.

Despite these seemingly
straightforward rules, buying foreclosures is not as easy as it may sound.
Sophisticated investors use the technique so novices may find themselves among
stiff competition.

· Are foreclosures a good investment?

· Are there different types of foreclosures?

· How do I find a foreclosed property?

· How does HUD affect my buying a foreclosure?

· Where do you find government foreclosed homes?

· Can I get financing on a foreclosure?

· What are trustee sales?

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