A few weeks ago I wrote a post about selling Hud foreclosures and other foreclosures here in the Dyersburg Tennessee area.
Larry Brewer called me last week about the foreclosures I am selling here. If you are located in middle Tennessee and are interested in foreclosures(especially around Franklin), Larry is your man. Here is a recent article he wrote about foreclosures.
In that recent article that I wrote, I mainly discussed selling HUD(FHA loans that have defaulted) foreclosures. However, there are also other foreclosures that an investor needs to know about.
Federal National Mortgage Association (FNMA or Fannie Mae), Government National Mortgage Association (GNMA or Ginnie Mae) and Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) are all "secondary market lenders". There may be others that I am not aware of!
In addition to these government backed mortgages, there are also THDA and VA mortgages that sometimes turn into foreclosures.
I wrote a post earlier today which is actually one of my new listings(THDA foreclosure). That stands for Tennessee Housing Development Agency which is a Tennessee State sponsored agency that backs some mortgages. I am the primary Realtor here in Dyersburg that gets to market these foreclosures.
In my opinion, we will see more and more foreclosures until the jobs picture begins to turn to the positive.
Buying foreclosures are a great way to invest in real estate(sometimes as low as 50 cents on the dollar). In earlier posts I mentioned that Realtors here in Dyersburg are really buying the foreclosures here but I am only helping investors buy these foreclosures and I am not buying them myself.
If you are interested in buying foreclosures, give me a call to get started!
Mike Fr
azier and his team can be reached at 731-285-2277. They are both listing agents and buyer's agents. We cover not only Dyersburg but surroundings towns of Newbern, Halls, Ripley, Tiptonville, Ridgely and Friendship(all in northwest Tennessee).
For unsurpassed customer service (second to none) contact Mike and his team today!
;)
;)
Mike - THanks for mentioning me in your article. I had a lady call on Saturday who wanted to know If I had any foreclosures. I explianed to her that the banks and the government own the foreclosures, we just help to find buyers for them. I did find a way to creat a search in the mls for it.