Welcome to Foreclosure Guide
Foreclosure Listing Service Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Purchase a Bank Foreclosure for your Next Investment Opportunity
from:A bank foreclosure is also known as a real estate foreclosure and it occurs when a borrower is unable to repay their outstanding debt to the bank. The real estate property was put up for collateral for securing the loan and a lien was put upon the property giving the bank legal right to seize that property should there be a default in payment.
The bank foreclosure takes a while and a wise investor will be aware that there is a period in between the time the bank will actually taken possession of the property. This period is known as the pre foreclosure period. During this time the property owner can attempt to sell the home in order to preserve his good credit standing. For the investor wishing to buy the property it becomes a very lucrative deal as many homeowners need to sell the property so quickly that they will give great deals on the sale of the home.
If the property was not successfully sold during the pre foreclosure period, the bank will take over the title of the property and repossess the home or other real estate property in question.
When a bank foreclosure has occurred the bank will not wish to keep the property that it now owns for several reasons:
• Banks are moneylenders; they are not real estate owners.
• Having possession of property on their books shows bad decision making on their part resulting from lending money to consumers who are unable repay the loan.
• Banks lose money on the ownership of repossessed homes. They must maintain the buildings, pay taxes and insurance fees. The longer they own the property the more loss they incur.
• The bank will also want to recover the money lost on their bank foreclosure.
Since banks want to rid themselves of the foreclosed property as soon as possible, they too will sell the property thus, opening up a wise investment opportunity for an investor as well. The investor can obtain property at between 20 – 60 percent below the market value from purchase of a bank foreclosure.
A wise investor can search for bank foreclosures and choose the property that is right for his/her current needs and budget. There are several online sites that offer bank foreclosure listings. Not all provide current listings. Bankforclosuresales.com will provide the most update bank foreclosure listings on foreclosure homes, commercial foreclosures, and government foreclosures. They charge a nominal fee but provide an excellent service.
Investing in a bank foreclosure home or other property is risk free, the deals are well below market value, and all liens on the property have been lifted. The investor is only responsible for the cost of the sale price of the property.
Foreclosure Listing Service News
Short-Sale Aid Takes Shape - LoanSafe
Short-Sale Aid Takes Shape LoanSafe Pierce and Thurson counties had relatively few short sales in 2011, according to data from foreclosure listing firm RealtyTrac. They made up just 16 percent of all home sales in Pierce County last year compared with the 26 percent that were sold out of ... |
April 2012 Foreclosure Activity: Time to Invest? - DigitalJournal.com (press release)
April 2012 Foreclosure Activity: Time to Invest? DigitalJournal.com (press release) For 2012, month after month foreclosures have been steadily rising each month throughout the six counties of Cook, Will, Kane, Lake, McHenry, and DuPage. The stats compiled by Illinois Foreclosure Listing Service for April 2012, however, show that this ... |
Summary Box: US foreclosure trends improved in April; repossessions down 7 ... - Washington Post
 CBS News | Summary Box: US foreclosure trends improved in April; repossessions down 7 ... Washington Post FORECLOSURE ACTIVITY: Foreclosure listing service RealtyTrac Inc. says foreclosure-related notices were reported on 188780 US properties last month. That's the lowest monthly total since July 2007. The April figure represents a decline of 5 percent ... Report: Fewer US homes foreclosed upon in April |
Report: Foreclosure filings slow in Utah, US - Salt Lake Tribune
 Boston.com | Report: Foreclosure filings slow in Utah, US Salt Lake Tribune The number of foreclosure-related filings — ranging from notices that a homeowner is behind on a mortgage to repossession by a bank — fell by 21 percent from April 2011 to last month, foreclosure listing firm RealtyTrac Inc. said Thursday. Report: Fewer US homes foreclosed upon in April Foreclosures fall in Washington state, West Metro Detroit short sales up as foreclosures fall |
2012 First Quarter Auction and Foreclosure Activity in the Chicagoland Area - PR Web (press release)
2012 First Quarter Auction and Foreclosure Activity in the Chicagoland Area PR Web (press release) Based on the latest numbers released by the Illinois Foreclosure Listing Service, new foreclosure filings in the Chicagoland seven-county area totaled 6442 in February, compared with 6168 in February and 7201 in March 2011. |