Call to Action, would-be investor in Foreclosure Homes!

So you are thinking of investing in a little real estate. You have some cash, and you know you can get a line of credit at the local bank, the local mortgage company will love you, your credit score is above 700 points. At the Golf Club you have been mulling it over with your mates for months. In fact you get that feeling they are getting more than a little bored with the subject. Maggie just switches off now when you try to discuss the pros and cons yet again with her. If only there was someone in the know that would take that first step with you, procrastination has always been one of your recognized weaknesses hasn’t it chum. What’s this buzz about foreclosure homes you have heard tantalizing snippets of more and more lately?

Foreclosed properties have been around for longer than I can remember, in fact in Granpa’s day weren’t the first real estate auctions the way of selling foreclosure homes? Now auctions are the venue to sell tax liens as well as properties seized by the county because of property taxes not paid. I heard that in 3 or 4 states foreclosure auctions are held weekly, every Tuesday, at least 2 properties a day.on Tuesdays, and on some days the properties pass to the lender bringing the action because noone bids over the upset price. I also heard that the local banks have so many foreclosed properties in their books they risk not remembering what business they’re in. And then there is that rather weird expression pre foreclosure I first recall hearing only in recent months. That’s the time from when the owner receives official notice of the debt with interest and charges due to the lender, the time given to “cure” – now there’s a quaint expression- the debt, or if that’s not done, the time right up to the auction day. Seems pre foreclosure homes are where the pro. investors vulture in to get the best pickings, and “all cash” speaks volumes.

If it’s true what I keep hearing, that “now is the best time to invest in foreclosures” and ” foreclosure homes can be bought at very attractive discounts” hadn’t I better start thinking about that?

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