Our foreclosure articles include information on the different types of foreclosure properties available. Each one has definite characteristics that you need to recognize in order to make informed decisions.
Foreclosure homes - Also called foreclosed homes - These are houses that have been foreclosed because of non-payment of the mortgage and are now bank owned homes. Distressed properties - Sometimes called fixer upper homes, these are homes that are in need of repairs. The degree of repairs needed and your ability to identify and price those repairs correctly, will determine whether they are a good investment. Our site includes a guide on how to buy distressed properties.
Real estate auctions, or foreclosure auctions - Some bank owned homes and government properties at sold at real estate auctions. Bidding on these properties requires the use of a real estate agent, but if the auction purchase is done right, you are able to buy a very cheap house. Federal homes - These are homes that are owned by different government agencies as a result of foreclosures, or homes that have been seized due to non payment of required taxes or other amounts, or for any other reason. As you can see in our foreclosure articles it is quite easy to secure home loans for federal homes.
Homes for sale by owner - Many owners prefer to sell their homes without the help of a real estate agent. Our foreclosure articles have information for the seller as well as for the buyer of for sale by owner homes. These homes for sale by owner may be pre-foreclosure homes, which means that the lender is already in the process of foreclosing on the house and the owner wants to sell fast to save their credit.
If you need further information on foreclosure articles, our foreclosures glossary contains the definitions of the terms related to investing in foreclosures, and our FAQ page gives you plenty of additional information. Check our foreclosure articles pages often, we add new content all the time. Let our foreclosure articles give you the information you need to be successful.
http://www.foreclosuredeals.com/Miscellaneous-Foreclosures-Articles.php
Source: www.isnare.com
