Friday, January 25, 2008

What's a pre-foreclosure home? What's a Foreclosed Home?

With foreclosures on the rise. Many want to find ways to profit by buying foreclosure homes. If you want to get a deal, you must understand the different types of foreclosures and the likely places you can purchase a house for less than market value.Foreclosures are common place in our world today. With the mortgage crisis of 2007, and declining home prices where many people bought homes they couldn't afford based on speculation that the value would increase so much it would be a great investment. There are also loads of get rich quick foreclosure schemes. These don't work. Foreclosure homes can be purchased, and at a discount, but you likely won't get them for pennies on the dollar or even half off. To know how to get deals on foreclosure properties you need to understand the different types of foreclosure properties: Pre-foreclosures, Foreclosure Auctions, and Foreclosed Homes.

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1 comment:

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