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May 03, 2010
The Prudential real estate buying bank owned foreclosure list is an excellent resource for locating discounted properties across the nation. Foreclosure properties are quickly becoming a favored choice amongst home buyers and real estate investors because they oftentimes provide instant equity and are nearly always priced below market value.
Home buyers can utilize the Prudential real estate buying bank owned foreclosure list to scout out all types of properties. Whether you're looking for a single family residence or commercial real estate, chances are you will find a perfect match via the Prudential foreclosure list.
April 08, 2010
Foreclosure houses are appealing to first time home buyers and real estate investors because they can be purchased below market value. The majority of foreclosure properties sold through public auctions or lending institutions require repairs or renovations. However, most can be transformed into a great residence or investment property.
There are pros and cons to buying foreclosure houses. Individuals who have never purchased real estate through public auctions should take time to learn how the process works. Otherwise, bargain foreclosure properties can quickly turn into money pits.
March 26, 2010
The Countrywide foreclosure list is an indispensable tool for real estate investors. On any given day, investors can locate over 15,000 foreclosures, bank owned, and cheap homes for sale located across the nation. Most properties are priced well below market value and sold in "as is" condition.
Countrywide foreclosure list properties are part of HUDs Neighborhood Stabilization Program. NSP allows qualified borrowers to obtain grant money to purchase bank owned homes in an effort to stabilize communities hit hard by foreclosure. Recipients of NSP funds have access to properties under Bank of America's "First Look" Purchase Program.
December 15, 2009
Considering investing in foreclosure real estate? You're not alone. From first time home buyers to seasoned investors, foreclosure properties can be a smart choice. They can also be your worst nightmare. Taking time to understand the market and what is occurring behind the scenes can help buyers determine if purchasing foreclosure property is the best option.
Nearly every day the rules for buying foreclosure real estate change. In February 2009, President Obama unveiled a $75 billion mortgage relief plan. Devised to provide assistance to nearly 9 million struggling homeowners, the Homeowner Stability Initiative offered incentives to mortgage lenders to engage in loan modifications with borrowers facing foreclosure.
September 28, 2009
When it comes to buying a foreclosure home it is important to understand the pros and cons of this type of real estate transaction. While you might be lucky enough to find a foreclosed house in perfect condition, chances are high you will need to engage in physical labor to get the property back in good condition.
Before beginning your quest for the perfect foreclosure home, it is a good idea to apply for pre-qualified home mortgage financing. Doing so ensures you are qualified to buy the property and provides extra bargaining leverage when it comes time to make an offer.
August 14, 2009
Bank owned refers to real estate that has been repossessed by the bank because the borrower was unable to maintain their mortgage payments. Bank owned real estate is oftentimes referred to as real estate owned or REO properties.
Bank owned real estate is foreclosure property which did not sell at auction. Once property has been foreclosed it is first place for sale through public auction. If no acceptable bids are placed, the property is returned to the bank. At this point, it becomes the mortgage lender's responsibility to maintain the property until sold.
June 13, 2009
A bank short sale refers to real estate that is either in foreclosure or has been returned to the bank. With the massive influx of foreclosure real estate, many mortgage lenders are beginning to engage in short sales to avoid the expense of the foreclosure process.
Bank short sale properties can consist of single family homes, condominiums, mobile homes, manufactured homes, commercial real estate or vacant land. When borrowers become delinquent on their mortgage note and unable to fulfill their financial obligation, lenders might allow them to engage in a short sale.