Second Mortgage Foreclosures – Navigating The Foreclosures Market

Economically speaking, the country is still reeling from a massive recession. While this has forced many people into foreclosure, it has also provided savvy investors with a unique opportunity to make money and stimulate the economy through second mortgage foreclosures investments. Buying a distressed property that has gone into foreclosure and has a second mortgage is slightly more complicated that buying a property that has only one mortgage.  But if you are a small property investor, you can take advantage of the second mortgage foreclosures market to pick up distressed properties at a discount and turn them into profit.

The best way to start is to use the resources that are available to learn as much as you can about buying second mortgage foreclosures as an investment. The learning process starts with getting into contact with like minded people and other small investors. You can find forums and other web based resources to help you through the process of investing in second mortgage foreclosures.

In terms of investment properties and second mortgage foreclosures, you may be able to pick up a real investment gem when you buy a property from a bank that has a “Deed In Lieu of Foreclosure” on the property. You would be buying the back taxes and the second mortgage as well. Investment properties usually have a second mortgage that has been used to make improvements on the property. When the first mortgage enters into foreclosure, the second mortgage holder does as well, and is paid from the balance of the sale proceeds, if there is a balance.

Private investing in commercial properties involves the process of short-sales. While this is usually a reference to buying a property that is under market value, it is also an investment opportunity for people who are ready to learn about second mortgage foreclosures and using them as an investment. It is always wise to examine every aspect of second mortgage foreclosures as a form of investment, as you will more than likely be dealing with a number of interested parties and you’ll need to be clued up on the processes, both legal and financial, that will take place.

Remember that if you purchase a property at a foreclosure auction, it is always sold to you subject to payment of “additional unpaid liens.” Not all sellers are up front about their second mortgage, so be sure to do due diligence on any second mortgage foreclosures before you bid at a foreclosure auction or a tax lien auction. Always do a title search and, if possible, use the MERS system to help you find out about the owners of any other mortgages on the property you are interested in.

If you are starting out as a property investor, you should consider learning about the second mortgage foreclosures market to make sure you are making an investment that will have a high rate of return.

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How Long Does the Foreclosure Process Take?

When people learn that their houses is being foreclosed upon, a common question is, “How long does the foreclosure process take?”  Knowing the length of time from the first missed mortgage payment to the actual eviction of the homeowner is one of the most important concerns in the entire foreclosure process.  Often, those adversely affected by foreclosure do not understand the time frame, nor in what order the whole procedure transpires.  The actual answer to the question, “How long does the foreclosure process take?” depends almost entirely on the laws of the individual state in which the property is located.

Each state determines various time lines that include any notices that must be served.  It also determines periods of redemption that come after the sale, and the confirmation and scheduling of the sheriff’s sale itself.  The state laws also dictate the procedure that must be followed for postponing a property’s sale.  Therefore, The question, “How long does the foreclosure process take?” does not have one definitive answer.  In general, however mortgage companies tend to begin the non-judicial foreclosure process from 3-6 months after the homeowner misses the first mortgage payment.  The mortgage companies are usually technically allowed to begin proceedings immediately after the payment is 30 days delinquent.  However, with the state of the economy these days, many lenders are understanding of the circumstances often add additional time.

A good response to give someone who asks, “How long does the foreclosure process take?” is to advise them to check with their lending agency and the sheriff’s office to learn the scheduling of the various steps involved.  In some states, that person will be advised that the eviction process can begin immediately.  If this happens, the homeowner can reasonably estimate another month between the date of the sale and the formal eviction date.  Once this date has been determine, the homeowner will probably change his or her inquiry from “How long does the foreclosure process take?” to “What do we do now?” because they will have to relocate, and often downsize.

Since the massive decline of the housing market, more American families than ever are asking, “How long does the foreclosure process take?” because they have been served with foreclosure notices.  On average, those who live in states that require the foreclosures be processed through the courts can anticipate som​ewhere around 271 days or approximately nine months which is longer than non-judicial foreclosures.  Judicial foreclosures have their own processing procedures and are in the middle of the foreclosure upheaval that was brought on by mortgage companies that improperly pushed through foreclosure paperwork on literally thousands of homes.

The silver lining to the grim housing situation is that the recession has officially ended and the economy is getting better.  With more new jobs being created and people who were formerly without work, being rehired, fewer families will have to ask, “How long does the foreclosure process take?” because they will be keeping their homes.

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Second Mortgage Foreclosures – Navigating The Foreclosures Market

Economically speaking, the country is still reeling from a massive recession. While this has forced many people into foreclosure, it has also provided savvy investors with a unique opportunity to make money and stimulate the economy through second mortgage foreclosures investments. Buying a distressed property that has gone into foreclosure and has a second mortgage is slightly more complicated that buying a property that has only one mortgage.  But if you are a small property investor, you can take advantage of the second mortgage foreclosures market to pick up distressed properties at a discount and turn them into profit.

The best way to start is to use the resources that are available to learn as much as you can about buying second mortgage foreclosures as an investment. The learning process starts with getting into contact with like minded people and other small investors. You can find forums and other web based resources to help you through the process of investing in second mortgage foreclosures.

In terms of investment properties and second mortgage foreclosures, you may be able to pick up a real investment gem when you buy a property from a bank that has a “Deed In Lieu of Foreclosure” on the property. You would be buying the back taxes and the second mortgage as well. Investment properties usually have a second mortgage that has been used to make improvements on the property. When the first mortgage enters into foreclosure, the second mortgage holder does as well, and is paid from the balance of the sale proceeds, if there is a balance.

Private investing in commercial properties involves the process of short-sales. While this is usually a reference to buying a property that is under market value, it is also an investment opportunity for people who are ready to learn about second mortgage foreclosures and using them as an investment. It is always wise to examine every aspect of second mortgage foreclosures as a form of investment, as you will more than likely be dealing with a number of interested parties and you’ll need to be clued up on the processes, both legal and financial, that will take place.

Remember that if you purchase a property at a foreclosure auction, it is always sold to you subject to payment of “additional unpaid liens.” Not all sellers are up front about their second mortgage, so be sure to do due diligence on any second mortgage foreclosures before you bid at a foreclosure auction or a tax lien auction. Always do a title search and, if possible, use the MERS system to help you find out about the owners of any other mortgages on the property you are interested in.

If you are starting out as a property investor, you should consider learning about the second mortgage foreclosures market to make sure you are making an investment that will have a high rate of return.

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Free Course To New Investors: What Is The Foreclosure Process?

New investors need to learn the ins and outs of the foreclosure process and taking a free course on “What is the Foreclosure Process” is an ideal tool to utilize. The foreclosure process is a complex legal process that varies from state to state due to different state laws. Taking a course to ensure that you understand the basics of “What is the Foreclosure Process” ensures will be armed with the education you need to invest wisely in foreclosure properties.

Many times free courses are offered by expert real estate investors who want to share their wealth of knowledge with greenhorns in the real estate investing industry. Expert create courses and produce seminars to pass along the knowledge of What is the Foreclosure Process to help others reap the benefits of the knowledge they have gained through their own real estate success.

Learning What is the Foreclosure Process means familiarizing yourself with the different stages of a foreclosure. The first stage is the Notice of Default that the lender serves the homeowner. This notice lets the homeowner know they face foreclosure and starts a reinstatement period. This is the first opportunity for real estate investors. A free foreclosure course concerning What is the Foreclosure process shows you, as an investor, how to take advantage of this time frame.

If a loan is not brought current or rectified between a lender and a homeowner after a three month period, then a foreclosure sale date is set. The homeowner will be sent a Notice of Sale at the same time that notice will be posted on the property itself and reported in the local news paper. Here again lies another opportunity for a real estate investor. Taking a free course that teaches What is the Foreclosure Process can show you how to handle this situation.

Your free course on What is the Foreclosure Process will teach you that next stage in a foreclosure is the sale of the property. A property sale can be conducted through an auction or through a trustee sale. At a trustee sale, the highest bidder wins a trustee’s deed to the property. During an auction, the lender puts an opening bid on the property. This is the lowest bid the lender will take on the property. The opening bid generally is the balance of the loan plus any fees incurred during the foreclosure process. If no one bids on or above the opening bid, the trustee holding the auction for the lender will buy the property on behalf of the bank.

For a new investor, this part can be intimidating, but it is a critical part of the investing business. If you pay too much, you don’t make money or can lose money. If you are not educated enough to know what is too much or a good deal, you can miss out on a gold mine. A free course that teaches What is the Foreclosure Process will help you understand the differences.

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Tax Foreclosure Investing – Investment Strategies for The Future

Tax foreclosure investing is a hot trend in the financial investment world right now. It is not just for the big banks and private equity firms either. Everyone can make tax foreclosure investing a part of their overall portfolio. It is a way of using the current economic climate to make sure that your financial future is secure.  As long as you are prepared for a little work, some good due diligence, and you have a great investment partner by your side, then you can make tax foreclosure investing into a business.

What Is A Tax Foreclosure?

A tax foreclosure is either a residential property or a commercial investment property that has been foreclosed upon for unpaid taxes. The process of using tax foreclosure investing as an investment strategy is complex, but not complicated.  If you are considering buying a tax lien on a property, you need to be sure that you have done your groundwork first. The tax lien, or unpaid tax bill is sold at an auction to a tax foreclosure investing company or individual. You can try to collect the taxes from the owner of the property, but if the taxes go unpaid for a significant amount of time, the investor can make an application to foreclose on the investment property. After the foreclosure has been successful, the tax foreclosure investing company becomes the owner of the property.

A Tax Auction

The auction of tax liens usually takes place at a government or municipal office.  Notices of impending tax auctions are publicly announced in the local media, usually a newspaper. This is a great way to find out what is on offer in your area and where to go to bid on the tax lien. You can also find valuable information on the internet and tax foreclosure investing forums, both of which can also give you a good idea of how to bid on tax liens. If you are a first time investor or a private investor, it might be a good idea to attend some tax lien auctions as an observer so that you know what is going on.  You want to make sure to make the best decision when you are ready to invest.

Good Tax foreclosure Investing Strategies

Get to ground level.  Never consider buying at a tax auction unless you have viewed the property yourself. Due diligence in the case of tax foreclosure investing means getting all of the information on the property up front. Look at the reasons for the non payment of taxes. You do not want to buy a proverbial ‘white elephant’. Here are some questions to ask yourself.  Is the property is going to yield a good rate of return in the future? Can it be used as an investment property? Will you have to raise financing to buy the tax lien?

One of the best resources that you can use is a property investment company that deals in tax lien properties. Make sure that their listings are current, and do your own homework before you start tax foreclosure investing.

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Free Real Estate Investing Courses Really Work

With all the free real estate investing courses there are on the Internet, it might be difficult to decide which are the worthwhile ones to choose. There are literally dozens of f courses, all offering different options.  It should be noted that any person who is interested in investing in real estate, should have a full understanding of some of the key investment concepts. Therefore, a good way to sort through all of these free real estate investing courses, is to eliminate the ones that do not cover these issues in their curriculum.  The issues include ways in which a person can purchase properties at wholesale prices, for example. While it is not required that every real estate investor be able to understand this particular strategy, not knowing it can cost untold sums.

As the good free real estate investing courses teach, flipping (or wholesaling) properties is one of the single most important keys to making money in the business of real estate. Knowing what to look for in buying the right properties for wholesaling is an important element in becoming a successful real estate investor.  When an investor chooses the wrong types of properties, there is little that can be done to recover the money lost by making these mistakes. When the right ones are chosen, there is unlimited potential for turning good, solid profits.

Other things that free real estate investing courses teach,  are how to find property owners and how to evaluate the properties that are up for sale.  It is a little known fact, that the largest profit potentials in real estate are to be made by locating difficult to find property owners who might have the deeds to properties that are abandoned, awarded to heirs, neglected, and so forth.  The competently designed free real estate investing courses outline ways in which the potential investor can go through county records, consult with data service providers and do skip tracing to more easily find the properties and their owners.

Another valuable skill that can be learned from free real estate investing courses is how an investor can design and present offers on properties.  Some consider this skill to be an art, because it takes knowledge and skill to create and offer that will increase the likelihood of the owner’s accepting an offer.  The good free real estate investing courses teach things such as who should pay the closing costs and whether or not Realtor Agreements should be used or what instructions should be given to the title company.  Therefore, when considering free real estate investing courses, one should make sure that the one that is chosen will cover the main points that are necessary to teach the valuable skills that are needed to make successful investments.  These free real estate investing courses are not all alike, so no one should choose one simply because it is free.

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Buying Foreclosures Vs. Shortfalls – Know The Difference

Understanding the differences between buying foreclosures vs. shortfalls can help you determine how successful your investing opportunities will become.  Those who are new to the real estate investing market have a lot to learn.  The differences between distressed properties, foreclosures and shortfalls can be more than freshmen investors realize.  When you understand those differences and come upon two different investment opportunities, you can determine which one is best for you at that particular moment. It can even make a difference between the success or failure of your venture into the real estate market overall.

Foreclosures are when the bank has completed the process of taking a property back from a homeowner.  The first step after the foreclosure process is complete is a real estate auction, where the property is sold as is to the highest bidder.  The buyer becomes the owner of the property with what is known as a quick deed. This means that the title hasn’t been researched and any liens against the property are now the responsibility of the new homeowner to resolve.  Any repairs that need to be completed are also the responsibility of the new owner.  If the property isn’t sold at the auction, the bank then lists the property through real estate agencies and on websites.  If there are any liens on the property, the bank has to make sure they are paid and the title is cleared.

A short sale is known as a pre-foreclosure process.  The homeowner has often already missed a mortgage payment and knows that they will not be able to save their home.  In the current aftermath of the housing crisis, the homeowner may even be holding an “upside down mortgage” which is the term used for a home that is worth less than the outstanding mortgage.  In these cases, the homeowner will approach the lender with the option of trying to sell the home for an amount that is less than what is owed.  If the lender accepts, the homeowner puts the property on the market themselves and tries to sell the home.

Buying foreclosures vs. short sales can be condensed to a difference in time.  Short sale properties may have liens on them and may need repairs, although often short sale properties are in better condition than many foreclosures.  Both types of distressed properties are sold at a lower price than is seen in the standard real estate market, so the buyer can usually save money.  The main difference between these two types of properties is the length of the process.  A short sale can take months before you know whether or not your offer is accepted and there is no option of a counter offer.  With a foreclosure there is less red tape to go through, especially at a real estate auction.  With a short sale, the offer can be based on the acceptance of financing where foreclosures usually deal with cash.  So understanding the time difference between these two types of purchases can determine if you are interested in short sales.

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Foreclosure Investing Forums – A Trusted Resource

Using foreclosure investing forums means that you are exploring all facets of your investment strategy before you start. Investing in the real estate market, especially the foreclosures market is one of the smartest choices a young investor can make. If you are a mini mogul or Donald Trump in the making then you need to use all of the resources available to help you learn about the foreclosures market and how to invest in real estate foreclosures.

There are a number of excellent free foreclosure investing courses that can get you started and give you an overview of the market and how to start investing in this growth industry. Foreclosure investing forums will put you into contact with people who have made a success of foreclosure investing and can share their knowledge with you. It is a resource made up of people who have been through the process, specialized knowledge and expert opinion. Everything you need to get ahead in real estate. Most foreclosure investing forums will have a beginner investors section which will cover the basics and give you a chance to learn about the different facets of foreclosure investing. Articles by the top real estate authors as well as people who have made real estate investing their business, will guide you through the foreclosure investing forums.

Getting started doesn’t have to be difficult if you know where to get the information and foreclosure investing forums are the best place to start. Topics on good forums will include a breakdown of the types of foreclosures that are available. You will be able to gain insight into the Freddie Mac and Fannie Mae foreclosures and how to bid on them as well as HUD homes and other government programs. You can get advice from real estate agents who have been in the business for years and from investment experts who will advise you on the best way to use your money wisely. A foreclosure investing forum means that you are getting information from people who have been there before you and can help you avoid the pitfalls that many young and novice investors fall into.

Do you know the difference between buying a short sale property and buying an REO home? Where is your money going to make the most profit? These are some of the questions that you’ll be able to have answered on a foreclosure investing forum. You’ll also be able to browse articles, get financial advice on hard money lenders as well as tax breaks and find the best seminars and courses in your area. Even if you are looking to buy a home for yourself, the foreclosure investment forums are a great place to pick up tips on how to find your dream home.

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What Is REO Investing Free Course

If you are new to the real estate investing world you need to learn What is REO Investing. REO stands for Real Estate Owned. This is property that has been foreclosed on and could not be sold at auction. Now it belongs to the bank and the bank sells the property. Banks do not want to hold on to the property, because it is more of liability than an asset to them. There are many resources available to learn about the different types of real estate investing. There are free and paid resources, such as educational courses, tutorial videos, websites, etc. that can help you learn What is REO Investing.

There are free website courses available to provide education on What is REO Investing and many other foreclosure investing options, that are higher quality than paid courses. Many of these free courses are put together by experienced investors, who have already made the money you want to earn. The free website courses offer valuable information to guide you through the beginning of your real estate investment journey.  Learning What is REO Investing is just your first step to many more keystones in your investing adventure.

Due to the foreclosure crisis there are thousands of REO properties available and the free online course that teaches What is REO Investing will show you where to look and find these properties. There are many resources available, however without experience or being taught, you might never find REO or other distressed properties on your own. The free course also guides you on how to find other distressed properties including short sales, HUD foreclosures, etc.

A course on What is REO Investing will teach you how to buy REO properties at significantly reduced prices. The lower your purchasing price on your investment property, the higher your profit will be. The banks attempt to help homeowners from going into foreclosure. They try different means for the homeowner to refinance or restructure their loans, using the government loan modification programs. Unfortunately, not all homeowners qualify for either option and are forced into foreclosure. Banks do not want to hold onto the property long. The carrying costs and liability associated with an abandoned home are high. Also the bank may have tenants to evict, which can be costly and time consuming. Learning What is REO Investing allows you to take advantage of the banks need to recover on a defaulted loan and create revenue for yourself.

The free courses on What is REO Investing offer valuable information. If the course is put together by an experienced investor, they are sharing their trade secrets and tips with you. This allows you the knowledge to replicate their level success. Take what you learned from the course and incorporate it with your own knowledge and experience and the course on What is REO Investing will lead you to your personal success.

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Free Course To New Investors: What Is The Foreclosure Process?

New investors need to learn the ins and outs of the foreclosure process and taking a free course on “What is the Foreclosure Process” is an ideal tool to utilize. The foreclosure process is a complex legal process that varies from state to state due to different state laws. Taking a course to ensure that you understand the basics of “What is the Foreclosure Process” ensures will be armed with the education you need to invest wisely in foreclosure properties.

Many times free courses are offered by expert real estate investors who want to share their

wealth of knowledge with greenhorns in the real estate investing industry. Expert create courses and produce seminars to pass along the knowledge of What is the Foreclosure Processto help others reap the benefits of the knowledge they have gained through their own real estate success.

Learning What is the Foreclosure Process means familiarizing yourself with the different stages of a foreclosure. The first stage is the Notice of Default that the lender serves the homeowner. This notice lets the homeowner know they face foreclosure and starts a reinstatement period. This is the first opportunity for real estate investors. A free foreclosure course concerning What is the Foreclosure process shows you, as an investor, how to take advantage of this time frame.

If a loan is not brought current or rectified between a lender and a homeowner after a three month period, then a foreclosure sale date is set. The homeowner will be sent a Notice of Sale at the same time that notice will be posted on the property itself and reported in the local news paper. Here again lies another opportunity for a real estate investor. Taking a free course that teaches What is the Foreclosure Process can show you how to handle this situation.

Your free course on What is the Foreclosure Process will teach you that next stage in a foreclosure is the sale of the property. A property sale can be conducted through an auction or through a trustee sale. At a trustee sale, the highest bidder wins a trustee’s deed to the property. During an auction, the lender puts an opening bid on the property. This is the lowest bid the lender will take on the property. The opening bid generally is the balance of the loan plus any fees incurred during the foreclosure process. If no one bids on or above the opening bid, the trustee holding the auction for the lender will buy the property on behalf of the bank.

For a new investor, this part can be intimidating, but it is a critical part of the investing business. If you pay too much, you don’t make money or can lose money. If you are not educated enough to know what is too much or a good deal, you can miss out on a gold mine. A free course that teaches What is the Foreclosure Process will help you understand the differences

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