I want to find a new (1st) home. We have been living like homeless people long enough and now that we are both working I think we are ready. But the prices around here are so high. Is there any way to buy a foreclosed home without paying to see a list? I feel like these are all scams, It says you can see foreclosed homes and then it says "to go further you must join" or something like that. I want to have access but not pay for it. You would think these banks would want to get rid of them ASAP so why charge money to get access to foreclosures? Any advise?
2006-08-28 13:19:01 · 4 answers · asked by laurie k 2 in Business & Finance ➔ Renting & Real Estate
For government-backed foreclosures, go to http://www.hud.gov
Most other foreclosures are sold by ordinary real estate agents. Any RE agent can give you a local listing for free.
2006-08-28 13:27:45 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
No, you won't be able to purchase a foreclosed residing house earlier it is auctioned. the two state and federal regulations are alike in requiring foreclosed residences be auctioned and any earnings above the value of foreclosures and the loan ought to take transport of to the guy foreclosed on. those regulations propose that the economic employer ought to public sale the valuables, they have not got a decision. the mothers and fathers can are available in with a final minute funds grant to the guy who's being foreclosed on. A funds fee for the completed loan due stops foreclosures courtroom circumstances because of the fact the economic employer has been paid off. If the residing house isn't properly certainly worth the quantity of loan owed, it would be silly to borrow the money someplace else and purchase a house overestimated. maximum probable no count if it is overpriced, they might desire a source of money from retirement bills or the such. Banks would not lend on it.
2016-10-01 00:44:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you want the information in time to be useful, pay for it. The free sites are 10 to 14 days too late. If they've told 236 real estate agents, hard money lenders, and bankruptcy attorneys "no", why should they tell you "yes?"
It takes cash to work the foreclosures market, cash that you are prepared to risk losing. If anybody could do it risk free, there would be no money in it.
2006-08-28 13:36:01 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
if you do find a foreclosed home be careful. there are often hidden fees that you don't know about....for example the house is only $50,000...but then you have to pay the property taxes that haven't been paid in a few years on top of that.
2006-08-28 13:24:10 · answer #4 · answered by crystalfaria11306 3 · 0⤊ 0⤋