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FORECLOSURE: QUESTIONS AND ANSWERS
FORECLOSURE: FACT VS.FICTION
THERE ISNT A DAY THAT GOES BY WITHOUT SOMEONE ASKING ME ABOUT FORECLOSURES AND HOW TO OBTAIN THEM.HERE ARE SOME BASIC INFO YOU SHOULD KNOW.IF YOU ARE THINKING ABOUT REAL ESTATE INVESTING PLEASE CALL ME DIRECT TO SCHEDULE AN APPOINTMENT TO FURTHER DISCUSS IN DETAILS THE RISK VS. REWARD.   
Q; WHAT IS A FORECLOSURE?
A; A FORECLOSURE IS A HOME THAT THE MORTGAGEE HAS DEFAULTED ON.GENERALLY AFTER 3 MONTHS MISSED MORTGAGE PAYMENTS THE BANK STARTS FORCLOSURE PROCEEDINGS.IT COULD TAKE BETWEEN 6 MONTHS TO OVER A YEAR BEFORE AN AUCTION DATE IS SET.
Q; HOW DO I FIND THESE FORECLOSURES?
A; THERE ARE NUMEROUS WEB SITES THAT OFFER FORECLOSURE INFORMATION ON ALL 50 STATES.I HAVE FOUND SOME OF THE SITES USEFULL,BUT MANY OF THE HOUSES THEY LIST ARE OUTDATED .AUCTION DATES ARE POSTED IN VARIOUS PRINT MEDIA,SO CHECK YOUR LOCAL PAPER. THE PRE-FORCLOSURE HOMES CAN ALSO  BE FOUND AT YOUR LOCAL MUNICIPALITY
Q; WHAT IS A PRE-FORECLOSURE?
A; A PRE-FORECLOSURE IS AN OWNER THAT IS 3 + MONTHS IN ARREARS.THESE ARE THE HOMES ALL SPECULATORS (FLIPPERS)WANT. MAKING YOUR DEAL PRIOR TO THE LENDER TAKING POSSESSION CAN YIELD THE GREATEST EQUITY POSITION.
Q;HOW DO I APPROACH AN OWNER IN PRE-FORECLOSURE?
A;MOST INVESTORS WILL SEND A GENERIC LETTERS OR OTHER ... more

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