Consider Pre-Foreclosures ! - 05/22/07 12:34 PM
If you are interested in buying foreclosures, consider first pre-foreclosures. They present all the rewards and none of the risks. My advice, hire a Realtor that will represent you as a buyers agent (Mostly Buyer Agents do not charge you for services, the fee’s are passed along to the seller).  Be sure that he/she has extensive experience purchasing pre-foreclosure properties as well as experience as a buyer agent (It helps if they have obtained their ABR designation Accredited Buyers Agent). If you are located in the Bristol County Area (South of Boston) and all of Rhode Island call my team (508) … (0 comments)

Is there a right of redemption in Rhode Island? - 05/22/07 12:30 PM
Is there a right of redemption in Rhode Island?Generally No. In a non-judicial foreclosure Rhode Island has no post sale general statutory right of redemption, which allows a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs. In certain judicial possessory actions a right to redemption will be permitted up to three (3) years. … (0 comments)

Deed in Lieu of Foreclosure - 05/14/07 02:44 PM
Deed-in Lieu of Foreclosure is, in effect, giving your property to your lender in exchange for cancellation of your mortgage.  It is sometimes also referred to as “Cash for Keys”. In a recent policy statement (MORTGAGEE LETTER 2002-13) HUD authorized lenders to pay FHA borrowers up to $1000.00 for a Deed in Lieu of foreclosure.on the condition that the occupant peacefully vacates a property for which the mortgage has been foreclosed and the property is left broom clean.
If you are approved for a Deed-in-Lieu, you will deed the property over to your lender in exchange for a release from the obligation … (6 comments)

Buying a Foreclosure Home at Auction - 05/14/07 02:42 PM
Buying a Foreclosure Home at Auction Buying a foreclosure home at its courthouse auction is the second opportunity you have in the foreclosure process. Like most other auctions, you’re just as likely to get an amazing bargain as the excitement of the auction may drive up the purchase price. Foreclosure auctions are public, and are usually attended by the original mortgage lender and other more professional real estate investors.
Pros of buying a foreclosure home at auction• Average savings of 20-35% off market value.• Immediate ownership of property.
Cons of buying a foreclosure home at auction• Property may still be occupied.• … (4 comments)

 
Denis DaSilva Broker, Real Estate Marketing Expert (Virtual Brokerage, Inc DBA Today Real Estate)

Denis DaSilva Broker

Real Estate Marketing Expert

Centerville, MA

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Virtual Brokerage, Inc DBA Today Real Estate

Address: 1533 Falmouth Road, Centerville, Ma, 02632

Cell Phone: (508) 813-6875

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