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FHA Foreclosure Homes                                                                                                                                

FHA foreclosure homes can be an excellent opportunity to build instant equity. Nationally, four percent of all FHA homes will go into foreclosure because of a loss of a job, divorce, or illness. While these situations are indeed sad, the situation can be an excellent opportunity for a first time home buyer or a real estate investor looking for a bargain to purchase FHA foreclosure homes. Email FHA foreclosure homes questions

Almost all mortgages in the US are sold to or insured by HUD (the Department of Housing and Urban Development-usually FHA or VA), Fannie Mae, or Freddie Mac. If a homeowner defaults on their FHA mortgage one of these agencies will take title to the home and sell it to the highest bidder. Often these FHA foreclosure homes bids are completed significantly below market value, creating instant equity for the successful bidder.

Financing these FHA foreclosure homes is a specialized area of mortgage banking and we have had extensive experience with the FHA foreclosure homes process. Your FHA foreclosure property may need some rehabilitation or renovation and we offer many loan options on my renovation loans page. If you are a real estate investor, I offer many creative loan programs on the investor loans page. If your interest is in purchasing a property with little or no down payment please visit our first time homebuyer programs page for 14 individual programs requiring 5% down or less.

All of these FHA foreclosure homes sellers will require you to be preapproved. Frankly, the seller does not want to waste time with a bid from a buyer who may not be able to complete the transaction. I offer a free qualification process by completing the form located on the qualification page. we will give you several programs you are qualified for and preapprove you quickly. 

However, all of these programs are really not useful if you can not find a home which has been foreclosed or a Realtor experienced in the process. I have had some very positive feedback from visitors to

There is also a report on buying Foreclosure Property as an investment available.

Learn more about improving your credit scores

For more information go to the FHA Loan Streamline Refinance page.

Read more about FHA Loan Closing Costs

I have included a page on how to calculate your FHA Loan qualification ratios.

I have included a page on FHA Loan documentation requirements.

In 2008, Short Sales are where most of the bargains in real estate are and they are NOT just for investors. Learn more about Short Sales

I also have a report "Buying your First Home" available by email.

Learn more about improving your credit scores

I have an article "Buying your home in 2008" by email explaining negotiating strategy in today's market.

If you have had credit issues in the past, it is absolutely critical in today's market that they be addressed before you try to get a mortgage. I have referred my clients to CreditFX for the past 5 years. Exceptional customer service and I am often stunned at what they have been able to have removed from people's reports, allowing my clients to qualify. Their charge of $199 is one of life's true bargains.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

FHA Foreclosure Homes Prequalify for your FHA Foreclosure Home.

 

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