Buyers can get real bargains by buying foreclosed homes from the Department of Housing and Urban Development (HUD). Educate and prepare yourself with our guide to buying a HUD foreclosure. What are HUD homes? When the government forecloses on a home whose mortgage was backed by the Federal Housing Administration, HUD takes possession of the… Read more »
Foreclosure was likely the farthest thing from your mind the day you closed on your home. But sometimes, life circumstances intervene and leave you unable to pay your mortgage. Fortunately, there are steps you can take to help avoid foreclosure. Here’s our guide. Don’t avoid, communicate Say you’ve fallen behind on your mortgage payments because… Read more »
When a homeowner is forced to give up a home because of financial hardship, the house is referred to as distressed property. Buyers can often purchase distressed properties at a deep discount, but these transactions are not always easy. Here are three categories of distressed properties and how a buyer can purchase each of them…. Read more »
If you’ve wanted to buy real estate as an investment, you might consider buying a house at a foreclosed property auction. You can get a great value, but the process can be risky and you need to be well prepared. Here’s what you should know. Why property is sold at auction Homes are generally sold… Read more »
An abandoned, decaying house in your neighborhood — also known as a ‘zombie’ house — could mean big trouble for you and your neighbors, especially if you’re planning to put your home on the market any time soon. How to recognize a zombie. Typically long abandoned, a zombie house may have broken windows, a collapsing… Read more »
While the opportunities to make money on foreclosed properties may be enticing, it’s crucial to know the risks and challenges before jumping in. Take a look. Someone’s loss, another’s gain. Foreclosures occur when owners can no longer make payments on their homes or can’t sell them to pay off their mortgages. The price of a… Read more »
