NewBuyer Blog » foreclosure

Top Five Tips for Buying a Foreclosure

NewBuyer — Sat, 09 Jan 2010 19:00:11 +0000

A helpful list of five tips you should know before buying a foreclosed home. These tips include how to find foreclosed properties, why auctions are risky, how to avoid buying an overpriced foreclosure, why getting pre-approved for the home loan is critical and the importance of a detailed home inspection.

From the resource: “Right now, it’s anyone’s guess when the housing downturn will finally hit bottom. But if you’re looking to buy a home now – and plan to stay in it for a while – there are plenty of bargains to be had on a foreclosed property.”

Source: AOL Money & Finance

Read More About Buying a Foreclosure at Newbuyer.com

Nine Tips for Buying a Foreclosed Home

NewBuyer — Sun, 27 Dec 2009 23:00:44 +0000

A current, insightful look at how to buy a foreclosed home. Nine tips are detailed. Learn how to budget carefully, view the home and evaluate the neighborhood, inspect the home for vacancy or improper winterization damage, consider the landscaping, contract for a private inspection, consider a HUD home, do not expect to make a quick profit on the home.

From the resource about buying a HUD foreclosure: “HUD houses go to market about six months after foreclosure. Local governments get the first option to buy. After that, buyers who pledge to live in the house have the first opportunity to offer a bid. If the house is still on the market after a period of about 10 days, the listing is opened to investors. Owner occupants end up with about half of HUD’s properties, according to HUD officials.”

Source: CNN.com

Read More About Buying a Foreclosure at Newbuyer.com

Buying a Foreclosed Homes: Pros and Cons

NewBuyer — Fri, 04 Dec 2009 19:35:47 +0000

A eye-opening look at the pros and cons of buying a foreclosed home. By asking yourself three questions presented by the resource, you will get a better idea if you, personally should by a foreclosed home. If you decide it is right for you, read on to see “the risks associated with buying a foreclosed home at each stage of the foreclosure process.”

Source: Nolo

Read More About Buying a Foreclosure at Newbuyer.com

Mortgage Foreclosures More Profitable than Workouts

NewBuyer — Thu, 03 Dec 2009 18:00:48 +0000

A brief, yet eye-opening look at how mortgage servicers are finding it better for their bottom line to foreclose on homes than to offer loan modifications (such as the federal government’s HAMP program). See how mortgage servicers may even profit when homeowners foreclose.

Source: Consumer Reports

Read More About Mortgage Assistance at Newbuyer.com