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  populist1 year ago

  with all the foreclosure stats coming out the last few days, I thought this was an interesting review of how it all works for buyers...

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  1powershop1 year ago

  Got it ~~~1powershop.com

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  earthlingerer1 year ago

  Seems like it would be worth it to know where you'd like to own the property, then use advertisement to find a pre-foreclosure seller who would bite at the money.

  This pre-foreclosure fish is a better one to work with than being a little fish yourself at the auction feeding frenzy, or being a fish dinner dealing with the bank holding the property.

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    bigG1 year ago

    That's a good angle earthlingerer.

    I would suspect that many of the people will battle very hard for a high price as they will be expected to make up any negative equity out of pocket or take the credit hit anyway. If there was no negative equity(amortization), they would just sell it on the market to avoid foreclosure and pocket the equity.

    However, you also might find a real gem. It's worth a try as it only costs an ad and some time.

    I go to auctions when they are held here in Houston, and one can get deals there as well. The good thing is you can set the top price you are willing to pay for a unit and simply stop bidding when the price passes your limit. It just takes a few hours of research and a couple of days of your time.

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  wallyone1 year ago

  i think there are going to be no shortages of auctions.. more people will lose their homes thanks to the lending companies which helped prices of homes to escalate with their sub prime mortgages.. it's a case of the rich getting richer and i believe we are just seeing the thin edge of the wedge.

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