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Foreclosures in Central Louisiana
Foreclosed properties in Central Louisiana While foreclosures haven't been as big an issue in Central Louisiana as what I hear on the national news, nevertheless there are quite a few properties available at present. Several came on market just this week. With due diligence on the part of the buyer, they can be obtained for less than market value. This beautiful house in West Pointe on the Bayou sold last year as a Fannie Mae foreclosure. The number one thing to arrange before shopping for any home, but particularly a foreclosure, is financing. Traditional financing will often not work for foreclosures due to the condition of the houses. Sometimes there is deferred maintenance that can be problemmatic. In other cases, homeowners become upset over losing their homes, and tear them up upon exit. Some even take fixtures. I've seen houses with missing toilets, water heaters, copper tubing from air conditioning units, entire exterior air conditioning units, door knobs, cabinet pulls, faucets, etc. In addition to this, you may find holes in walls and ruined carpet. The "cash for keys" program offered by some lenders gives the owners money to move provided the house is left intact and reasonably clean. This HUD ... more

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