Welcome to Pre Foreclosure Guide
Buying Pre Foreclosure Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
How To Understand Pre Foreclosure Listings
from:Understanding pre foreclosure listings is important, especially if you are trying to capitalize on a declining home sale market and what to purchase an outstanding property at a lower than market value price. Pre foreclosure listings, also known as short sale listings, are available for free on many different sites on the internet as well as through private access sites. Keep in mind that all homes on pre foreclosure listings are not for sale, some owners will be able to negotiate with lenders, refinance, or may borrow against other collateral to make up their default payments, bringing the property out of foreclosure.
Pre foreclosure listings are also known as short sales, since the buyer is selling his or her property "short" of the total cost of the mortgage. For example, a home owner with a $200,000 home that is in pre foreclosure may owe $180,000 on the mortgage, but may be willing to sell the home for $160,000 to avoid having a foreclosure on their credit record. This means that the buyer will purchase a $200,000 home for $160, 000 or less, which is well worth the effort to find pre foreclosure listings and contact the owners.
Depending on the type of pre foreclosure listings that are provided by your agent or the website you select, you may be provided with more or less information. The free websites tend to offer the very basic information while the pay per use or subscription type websites can be highly detailed in the information they provide. This information may provide information such as:
• Market value and equity information on the property
• Comparable sales in the area both in foreclosures, pre foreclosures and traditional home sales
• Property reports
• Tax information on the property
• Arial maps of the area as well as pictures of the property
• Phone numbers and contact information for the home seller
Since there are more and more people that are investing in property using the pre foreclosure listings and services, the most up to date and current listings tend to provide the best returns for investors. When deciding if you want to subscribe to a particular pre foreclosure listing service, check to see if they offer a free trial offer that you can become familiar with navigating around the site and locating information in a simple fashion. Many sites are set up to email you the information or to send daily listings that meet your search criteria directly to your email or to your cell phone through a text message.
Buying Pre Foreclosure Specific links
Buying Pre Foreclosure News
CredAbility Supports HUD Studies on Housing Counseling - MarketWatch (press release)
CredAbility Supports HUD Studies on Housing Counseling MarketWatch (press release) Both the pre-purchase counseling and foreclosure counseling studies enrolled clients in the fall of 2009 and early 2010. HUD found that 35 percent of participants became homeowners within 18 months of pre-purchase counseling and only one of those ... GreenPath Debt Solutions Takes Part In Government Housing Counseling Study |
Foreclosures, House Sales Up in April - LoanSafe
Foreclosures, House Sales Up in April LoanSafe (Source: Ed Waters Jr. The Frederick News-Post, Md. — Foreclosures were up in Frederick County from March to April, but so were home sales. RealtyTrac, a national distressed property data firm, said there were 73 foreclosures in the county in April. |
Paul Vencatasawmy, Fake Real Estate Agent, Scams Buyers Out Of $250000 With ... - Huffington Post
 Business Insider | Paul Vencatasawmy, Fake Real Estate Agent, Scams Buyers Out Of $250000 With ... Huffington Post Vencatasawmy and his team of employees allegedly held open houses in foreclosed or vacant homes throughout Central Florida and used his “nice guy” demeanor in an aim to dupe potential buyers, according to one man who “fell in the trap. INVESTIGATORS: Fake Real Estate Agent Stole Thousands From Florida Residents |
Malloy Announces Plans for CT's Share of Foreclosure Settlement - Patch.com
Malloy Announces Plans for CT's Share of Foreclosure Settlement Patch.com By Chandra Johnson Greene Before you buy a foreclosed home, be sure you know how. Debbie Ferrari/Real Estate Broker Gov. Dannel Malloy and Attorney General George Jepsen announced earlier this week that the $190 million Connecticut received as a part ... |
Hunting for property in pre-foreclosure - Washington Post
Hunting for property in pre-foreclosure Washington Post Is there a report that I can find or buy that shows pre-foreclosures? A: Congratulations on selling your home so quickly. We have been hearing that in some neighborhoods across the country — even in Georgia — home buyers are starting to make offers ... |