Short sales are an extremely popular strategy amongst real estate investors right now. However, there is not much that is short about the timing a short sale. Depending on your location and the lender you are dealing with, short sales can take an average of 3-6 months to close! You must be patient, organized, and [...]
Auctions
January 26, 2010 By Leave a Comment
A creative way of acquiring properties at discounted prices is to purchase them at auction. After a homeowner goes into foreclosure, the bank will take back the property that was used as collateral for the mortgage. (It is important to remember that the timeline of the foreclosure process is different in every state, and every [...]
Bank Foreclosures
January 26, 2010 By Leave a Comment
There are currently around 5 million homes in foreclosure in the U.S. right now. It is reasonable to expect that there will be at least 12 million more homes going into foreclosure within the next two years. Because of these astronomical numbers, many people are scared of investing in real estate. However, this market creates [...]
American REO
January 19, 2010 By Leave a Comment
It is no secret that America is facing an unprecedented foreclosure crisis. But, what happens to all of those foreclosures if no one buys them at the auction? Well, the banks have to take back the properties, and they become Real Estate Owned, or REO. Contrary to popular notion, the banks do not want to [...]
