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agents: BEWARE: the DANGERS of foreclosure, preforeclosure, REO websites - 07/16/07 05:53 PM
This post is actually a modified comment that I made on David Britt’s blog, http://activerain.com/blogs/dbritt.
You must read David’s blog post!
David’s post and Fred’s comment on the post addresses an important and disenchanting issue in the realm of pre-foreclosures, foreclosures, and REO property.
David’s post should be read by anyone considering becoming a member to any one of the many guru-esque foreclosure websites.
It is true, preforeclosures, foreclosures, and bank owned, is all the buzz right now and the consumer must exercise caution when putting down their credit card information.
I was regional director for www.jerseypreforeclosures.com and … (7 comments)

agents: What is a preforeclosure sale? - 06/04/07 10:57 PM
Real estate investor glossary of terms:
Preforeclosure sale: Buying a property in preforeclosure involves approaching the borrower or homeowner and offering to buy the property outright. The borrower/owner can walk away with the equity in the property and avoid a foreclosure or sometimes a “charge back” on his/her credit report. The buyer has time to research the title and condition of the property. Often times a buyer can purchase a home in preforeclosure for at least 15-20% below market value, conservatively. In rare cases buyers can realize discounts of 40-50% below market value.
In many cases, homes in preforeclosure are left … (6 comments)

 
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