Forclosure properties can be an excellent opportunity to build instant equity. Nationally, four percent of all properties will go into forclosure because of a loss of a job, divorce, or illness. While these forclosure situations are indeed sad, the forclosure situation can be an excellent opportunity for a first time home buyer or a real estate investor looking at forclosure properties for a bargain. Email forclosure properties questions
Almost all mortgages in the US are sold to or insured by HUD, Fannie Mae, or Freddie Mac. If a homeowner defaults on their mortgage one of these agencies will put the properties in forclosure and sell it to the highest bidder. Often these forclosure properties bids are completed significantly below market value, creating instant equity for the successful bidder.
Financing forclosure properties is a specialized area of mortgage banking and we have had extensive experience with the forclosure properties financing process. Your property may need some rehabilitation or renovation and we offer many loan options on my renovation loan for forclosure properties 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 and low down payment page for 14 individual programs requiring 5% down or less.
All of these 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.
Read more about Forclosure Properties Closing Costs
In 2008, Short Sales are where most of the action in real estate is. Learn more about Short Sales
I have purchased new financial modeling software that can do sophisticated analysis of your situation today as well as make suggestions on how small changes in how your mortgage is structured today can have a life changing effect in the years to come. Modules available include the Total Cost Analysis to compare the cost of up to 4 loans over the length of time you plan to be in the home; an Equity Repositioning Analysis to see how small changes in your debt structure today can have a huge impact in years to come; a Consolidation Analysis to see how consolidating debt can change your financial future; a PMI Analysis to see if eliminating PMI will be effective for you; and a Rate Watch Report which all my past clients are enrolled in to insure they remain in the mortgage that is best for them in their current situation. If any of these free analysis are of interest to you, please email me with as much specifics of your situation as possible
Learn more about commercial loans
Learn more about Loan Modification. If you can not refinance, it may be the best way to save your home today.
As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come. Read more about this free, no obligation service.
Prequalify for your Forclosure Properties.