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 […]
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 […]
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 […]
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.