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Investors Are Purchasing More Foreclosed Homes

Last month in Orange County investors purchased 39% or 278 of 718 homes and condos sold at auctions.

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Less properties are being returned to banks as lenders and loan servicers offer bigger discounts as high as 60% off debt owed on a first mortgage. Most homes seem to get a discount of 30% off debt owed.

Some investors are putting these homes on the market almost immediately, while others are choosing to rent them out temporarily while they wait for the market to rebound.

Posted by Adam Brett - Fullerton, California Realtor on 10/25/2009 05:31 PM

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Investors Are Purchasing More Foreclosed Homes in the ActiveRain Channel

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