Foreclosure Background

Foreclosure Sales: The Parties Involved

Sales of foreclosed homes involve more parties than a traditional real estate transaction.  Let’s take a look at the most simple of real estate transactions.  If you were buying a friends home, there would be two individuals involved in the sale:  you (the buyer) and your friend (the seller).  You would negotiate a price and […]

Continue Reading

Foreclosure Asset Managers

Isn’t an Asset Manager the person you use to help manage your money?  Well, not in the foreclosure business. An asset management company in the foreclosure business is a company that the owner of the foreclosed property hires to basically do all the work in selling a foreclosed asset.  The asset management company is a […]

Continue Reading

What is Zombie Foreclosure?

Zombie foreclosures…no, these are not foreclosed homes where the undead live. Zombie foreclosures are homes that the former owner has vacated but the bank has not yet taken title.  Often, the former homeowner does not even know they still own the property.  Until the bank completes the foreclosure, the homeowner definitely does still own the […]

Continue Reading

What is shadow inventory?

If you listen to the media at all, you probably have heard the term “shadow inventory” when referring to the housing crisis or bank foreclosures.  Shadow inventory is a vague term and is often referred to in billions of dollars.  What is the shadow inventory? Investorpedia describes shadow inventory as…. A term that refers to […]

Continue Reading
FI_BankOwned

Buying a Foreclosure

Buying a home is not easy and there are many complexities involved. The housing market consists of both regular and bank owned homes. Understanding the complexities of buying a foreclosed property prior to searching for a home will eliminate much of the potential frustration. Learn more about the differences of foreclosed home purchases in this article.

Continue Reading
FI_Foreclosure

The Bank Foreclosure Guide: Introduction

Foreclosures are prevalent in today’s real estate economy. Despite the negative sentiment surrounding the foreclosure crisis, investors and homebuyers are profiting from the new real estate foreclosure environment. Foreclosures present a great opportunity to purchase property at a discount. Our site endeavors to provide you, the foreclosed home buyer, with information you can use as a tool in your buying process.

Continue Reading
Post_ForeclosureHouse

The Foreclosure Process

Every state has its own foreclosure process. A foreclosure is usually the result of a person’s inability to make timely payments on the mortgage he/she has taken out for a property. Because of a foreclosure, people lose their homes and eventually the bank becomes the owner of their property. Understanding the foreclosure process will allow you the ability to target your purchase strategy for bank owned homes.

Continue Reading