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April 17, 2008
Bank Foreclosures: Evaluating the Risk Before You Invest
Bank foreclosures offer investors the potential to make a hefty profit, but they also carry a tremendous risk. Before investing in real estate owned properties, it's imperative to conduct research to fully understand the process involved and weigh the pros and cons.
When foreclosure homes are not sold at auction, they are returned to the bank. Also known as real estate owned (REO), bank foreclosure properties are sold directly through the lender. Most banks want to sell REO properties as quickly as possible. However, this does not mean they are eager to sell them for less than is owed on the mortgage note.
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