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The Rising Foreclosure Market
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Yes, the foreclosure market is rising. This is primarily due to the financial institutions who lent money to the want to be investors a few years ago with their flexible loan criteria, or the homeowner who refinanced with an ARM loan to get a smaller interest rate and now they need out. The rising foreclosure market is a tremendous opportunity for the investor who wants to work the pre-foreclosure market, where the homeowners are desperate to get out of their loan before they lose their home. Its also great for the investor who wants to buy seized property from the bank. The banks seize the property due to non payment and sell it at a discount, so they can try to make some of their money back. You can usually get a list of pre-foreclosure homes in this rising foreclosure market from a local Realtor. They may also be able to provide you with the bank seized homes. If not, ask your local bank.
About this poster:
Posted by:
Cheremac
(female, mid-40s)
(Posted 11/27/07)
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