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WHAT IS A FORECLOSURE I’ll be glad to send you a FREE list but first you need to understand a few terms so you know what to ask for. A foreclosure has three distinct phases: First is a “Notice of Default”
Short Sale Some lenders will allow a sale at this point and usually will take less then the total loan amount. The sale has to be approved by the lender and usually takes two or more months to obtain the approval. Second is a “Trustee Sale”
Auction Held by the lender. The lenders usually buy the property as they require all cash at these sales Third is a “Trustee’s Deed”
Bank Foreclosure HomesBank owned foreclosures, also known as REOs (real estate owned) properties, are homes that have gone into foreclosure and have been bought back by the bank. Since banks aren't in the business of owning real estate, they do everything they can to ensure that these homes are sold quickly. Often, you can buy a bank foreclosure for 10-15% or more below market value. The whole list is over 400 properties from low priced condos to over a million dollar homes. THIS IS THE LIST TO BUY FROM !! After you click on "CLICK HERE" a request for information will come up. We need a name, and an e-mail address, phone, or mail address and the area and size or price range so we can make a smaller FREE list.
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