"Buying Foreclosures"
In today’s market, everyone is looking for that great deal. Because of the market, everyone thinks that they can go out and buy that $300,000 house for $100,000. Although there are some great bargains out there, the great buys are few and far between. When you are looking to buy that foreclosure, you should expect that it is going to need a lot of work and not all these houses are exactly what you are looking to be living in. Most need a lot of work and money to make them livable. We will be glad to show you some of these homes and seee if this type home would be right for you.
You will of course be able to buy bank and corporate homes for 30 or even 50 thousand off the price of the surrounding homes in the area. That is what is making selling a home in this market a tough thing to do. It is a great time for buyers and slow for sellers.
Buying bank owned homes can be a good thing especially with “Short Sales”, but the banks are slow and the timetable is a month to six weeks on getting answers back from the bank. We work with banks constantly and their paperwork and addendums. You need to have someone that is experienced to help you purchase these homes and deal with the contractural issues. We sell and purchase bank homes and can help you get through the muddle of paperwork and tediousness of the process. Call us for consultation on purchasing this type of homes.
In Trouble with Your Mortgage?
With the economy the way it is and the prices of homes going down there are a lot of homeowners that are having problems making their house payments. It could be due to pay cutbacks, loss of job, change of job, medical problems or loss or death of a spouse. Whatever the problems are, there are solutions for you.
With the “Making Homes Affordable Act” outlines resolutions to your current problems with Forbearance, Loan Modification, Refinancing, Short Sale, Reinstatement, Chapter 13 Bankruptcy, and Deed in Lieu of Foreclosure are all options that you have instead of foreclosure. So if you are having problems contact a “REALTOR®” to discuss your options and how to work with your bank to keep you out of foreclosure.
The overriding factor for not letting your home foreclose is a minimization of loss and liability. After a foreclosure the bank can come back after you for the deficiency of the loan balance. There is no time limit on this; now or a few years from now. There are other ways that can stop this.
Work on your terms, not the banks. One of the biggest mistakes is waiting too long to save your home. Act quickly and find out the solution, before it is too late.