Home Foreclosures

The neighborhood I am interested in buying has 4 foreclosed homes for sale however I can not locate which banks own them nor do I want to pay for a subscription to the site referenced to view more information. I would like get the info without having to pay and I was wondering how I can do so.

You have located these properties as foreclosures. Are there any real estate signs on these properties as of yet? If there are no real estate signs on the properties, these properties might not be processed through the lender/bank foreclosure system as of yet.

Once they are processed through the lender/bank’s foreclosure system, the lender would then assign the properties to a local real estate company to sell on their behalf.

If the properties have a real estate sign listing a company that would sell the properties, you might contact this company or select a buyer agent from another company.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Bless their little hearts and souls. Is this not an excellent strategy. Waste is a terrible thing when homeless people are in need of housing. Do you agree with their new strategy?

SEATTLE (AP) — The Occupy Wall Street protests are moving into the neighborhood. Finding it increasingly difficult to camp in public spaces, Occupy protesters across the country are reclaiming foreclosed homes and boarded-up properties, signaling a tactical shift for the movement against wealth inequality.

Just because someone doesn’t have what everyone else has doesn’t mean they deserve it.

My husband and I have been trying to find a house and obviously been looking at foreclosed homes. How do I go about applying for them? Is it hard getting one? I am new to this and would like some information. Thanks guys.

You don’t ‘apply’ for a foreclosed home. You offer to purchase one, just as you offer to purchase any other type of real estate. You will need a mortgage, just as you would with any other real estate purchase (unless, of course, you happen to have the full amount of the sale price in ready cash). I suspect you’ve been listening to TV ads about ‘cheap foreclosed homes’. Understand that you get what you pay for. If you buy a ‘cheap foreclosure’, chances are that it has been trashed and/or stripped of many items of necessity. You get what you pay for. Talk to a lender to see what amount of money you qualify to borrow, and then to a real estate agent to get ideas of the prices of area foreclosed homes.

I have a cleaning company and would like to get involved with cleaning foreclosed homes for banks. However, getting the number to the department that deals with these homes is a nightmare. No one seems to be able to get the number. Any help would greatly be appreciated!

The reason you are unable to get phone number is, there is none. Banks do not hire people direct. After the home is foreclosed, they turn it over to a RE management company, and that company, assigns it to one of their approved vendors. They have it cleaned out, re-keyed, appraised and then listed. You need to get on the RE Managements approved vendor list. They require licensed, bonded and insurance for all vendors.

I see adds every where and people after people selling book after book about buying foreclosed homes. Is this a really good time to buy or is it another person ripping people off?

I want info on this and who ever gives best info will get the best answer cuz I really want to know.

Most of the time it is a rip off to sell their books and programs.

If you buy a foreclosed home, you pay the seller, the taxes and repair costs. (unless you know home repair or have your own company it can be guess work at best or a disaster waiting to happen.)
After settlement costs and than fix up costs than more settlement costs to a Realtor to sell it who is licensed in the State and bonded for screw ups, what is left is profit. If you have to pay contractors to do the repairs and a property manager to maintain the place till it is sold (unless you live in the same city) or want to commute every week to check on it – all this comes out of the profits.

It can be done – but flipping houses is not cheap and not always a profit if you get the wrong place.

A lot of people have told me to look at foreclosed homes before buying a regular house. How can I do that for free. I live in Iowa if that helps.

Your local sheriff’s office should post pending sheriff sales of properties in the foreclosure process. It’s difficult to purchase homes at sheriff’s sale as the lenders typically will only accept an amount equal to what they are owed on the property regardless of what the property is worth. For example a home has a $200,000 mortgage on it, it goes into foreclosure and becomes distressed due to vandalism and lack of maintenance, etc, the home on the fair market will only go for $50,000. The lender will purchase the property as sheriff’s sale for $200,000. The property then becomes a bank owned property or REO which the bank’s REO department will market through a local real estate company for fair market price $50,000. Sounds crazy but that’s how it works. The sheriff sale list will give you an idea of properties that are in danger of going into foreclosure from there you will need to watch these properties and see if they end up listed with an agent.

People from China are here to buy the foreclosed homes. Whos to say there will not be Sunni, Shiite Muslims, or Bin Laden, Al-Quada, terrorist, buying the homes. If it is really our money in this bailout, I vote no to foreigners buying anything in the United States. Where does our government get off trusting these people?
And what a price the United States of America has paid for the thought of peace.

I agree…I think the US needs to beef up their immigration laws. I understand that America is the land of opportunity yada, yada, but we have to draw the line somewhere.