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Why Don’t More Use AZ Fix and Flip Loans on Zombie Foreclosures?
Zombie foreclosures are a tempting way to find homes to rehab and can help your Arizona Fix and Flip Loans go father. However, you’ll find there are a few extra hoops to jump through when you’re working with the undead.
The housing market is tight right now. Foreclosures are at a 20-year low. Available housing stock is down too. Home values are skyrocketing and rents are up as well. It seems there isn’t a whole lot of room for someone doing rehabs with Arizona Fix and Flip Loans to get a foot in the door anymore. If you’re struggling to find good prospects, you may have come across something referred to as “zombie foreclosures” and wondered what they are and why more people aren’t leveraging the strategy.
Zombie foreclosures are a bit of a novelty in the industry. If you’re familiar with the foreclosure process, then you know that when someone misses a payment, and often even several, they still have avenues to follow. The bank will usually make several attempts to collect and then eventually send out the first foreclosure notice. Even when that first letter goes out, it still gives people a certain number of days to get their ... more

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