Foreclosure Background
Foreclosure Sales: The Parties Involved
Sales of foreclosed homes involve more parties than a traditional real estate transaction. Traditional real estate transactions 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 […]
Foreclosure Asset Managers
Isn’t an Asset Manager the person you use to help manage your money? Well, not in the foreclosure business. What is an asset manager? 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 […]
What is Zombie Foreclosure?
Zombie foreclosures…no, these are not foreclosed homes where the undead live. What is a zombie foreclosure? 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 […]
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 […]
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.
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.
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.