Experts and realty analysts predict foreclosures nationwide will increase in the very near future if the low rate of home appreciation remains constant. This foreclosure prediction is consistent with every area of the country. As the economy is beginning to slow down, there are people who are losing their jobs and thus can not keep up with their mortgage payments. There are presently tens of thousands of homeowners who are in the preliminary stages of losing their homes to foreclosure!
There Are 3 Stages when Buying A Foreclosure Property:
• There is however a fourth option. This is where a real estate agent, who happens to specialize in foreclosure investments steps in. They have contacts with groups of investors and when a home is in pre-foreclosure, the real estate agent advises these investors, hoping that the loan on the home can be reinstated. Reinstating the loan usually requires what is owing on the property, which is usually around several thousands dollars.
You can invest and participate in these types of foreclosure investing, provided you know resources like RealtyTrac or have a good relationship with realtor’s who specialize in foreclosures.
Once a homeowner receives a foreclosure notice, that does not automatically mean they will be lose their home. As all real estate property appreciates, this has allowed a lot of homeowners to get equity loans because of the increased value of the home to pay off what they owe, thus avoiding foreclosure altogether. Those homeowner however, who have already previously refinanced their home or previously got a home equity loan can not use the “borrow” option to save the foreclosure.
This has created a perfect opportunity for real estate foreclosure investors to step in and loan money to the distressed homeowner, and at the same time getting a very good return on their investment.
This is a win-win scenario. You, the real estate foreclosure investor, can help the distressed homeowner by saving their credit rating and you making a nice profit at the same time. This is known as pre-foreclosure real estate investing and is one of the best real estate investment opportunities.
If you are interested in real estate pre-foreclosure investing, RealtyTrac can be an excellent place to start.
RealtyTrac currently publishes nearly 1 Million properties nationwide, from nearly 2,500+ counties.
Search RealtyTrac Foreclosures FREE For 7-Days!
RealtyTrac, Inc., is the nations leading online market place for foreclosure properties, they provide all the resources that every home seeker, foreclosure investor and real estate realtor’s need to find, then evaluate and buy properties way below market value. RealtyTrac, founded in 1996, offers the largest national database of pre-foreclosure as well as foreclosure properties, with more than 600,000+ properties listed across the United States. The RealtyTrac website hosts nearly 2 million unique visitors monthly.