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Even though buying a home after a recent foreclosure is
possible, homebuyer should not apply for a mortgage blindly.
Because of your current credit standing, many lenders are ready
to take advantage of you. Your options are limited. Nonetheless,
this does not mean you have to accept a terrible mortgage loan.
Why Does a Foreclosure Occur?
Homes are foreclosed when a homeowner is unable to repay
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In teaching workshops on how to buy foreclosure homes (often listed on a foreclosure auctions report), I often write on the markerboard in big bold letters, "Gain They're Trust to Close More Deals".
The principle of gaining the trust of the homeowner threatened with foreclosure is a deal-maker. If they trust you, they are more likely to accept your offer.
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Foreclosures are on the rise nationwide, and the Phoenix, Arizona area, including greater Maricopa County, is not immune from this trend. There are over 0 BILLION worth of mortgages in foreclosure right now, nationwide. This is a staggering statistic. Those in this unfortunate situation often have to try to sell their house, but can find it impossible to do before
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Latest Foreclosure Houston News
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Big banks accused of deceit in foreclosure cases
Big banks accused of deceit in foreclosure cases Houston Chronicle Copyright 2012 Houston Chronicle. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 12:22 p.m., Friday, February 3, 2012 Democrat Eric Schneiderman sued Bank of America, J.P. Morgan Chase and Wells Fargo over their use of the Mortgage Electronic Registration Systems Inc ...
Fri, 03 Feb 2012 12:58:41 -0800
BofA, JPMorgan, Ex-UBS Trader, Foreclosure Deal, Goldman in Court News
“The banks created the MERS system as an end-run around the property recording system, to facilitate the rapid securitization and sale of mortgages,” Schneiderman said in a statement.
Sun, 05 Feb 2012 22:05:45 -0800
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