| View previous topic :: View next topic |
| Author |
Message |
almu
Newbie
Joined: Apr 26, 2005
Posts: 9
|
 Posted: Wed May 18, 2005 11:14 am Post subject: Foreclosure Search |
 |
|
| Given the real estate crash that's about to be happen, triggered by a falling dollar, there's a fortune available to anyone savvy in pre-foreclosure procedures. The key is knowing where to search for them. |
|
| Back to top |
|
 |
Colocation
Site Admin
Joined: Jan 07, 2004
Posts: 412
|
| Posted: Thu May 19, 2005 9:04 am Post subject: pre-foreclosure procedures |
|
|
| So what is pre-foreclosure procedures? |
|
| Back to top |
|
|
almu
Newbie
Joined: Apr 26, 2005
Posts: 9
|
| Posted: Thu May 19, 2005 10:28 am Post subject: Stucturing Pre-forclosures |
|
|
| In the current overheated real estate market, homeowners are falling behind on their mortgage payments. One can structure deals where, in return for taking over the mortgage balance and leaving the distressed homeowner with some cash (about 6-10 per cent of the mortgage balance), you will take over the homes for around two-thirds of fair market value (remember these are distressed owners in urgent need of cash). With so much equity (market value less purchase price) in such properties, it is a cinch that investors will be climbing the walls to fund such deals in return for a share of the profits. The hard part is finding such distressed owners before they get into foreclosure, and of course, structuring the deal to the satisfaction of all concerned. |
|
| Back to top |
|
|
Colocation
Site Admin
Joined: Jan 07, 2004
Posts: 412
|
| Posted: Thu May 19, 2005 11:32 am Post subject: Re: Stucturing Pre-forclosures |
|
|
| almu wrote: |
| In the current overheated real estate market, homeowners are falling behind on their mortgage payments. One can structure deals where, in return for taking over the mortgage balance and leaving the distressed homeowner with some cash (about 6-10 per cent of the mortgage balance), you will take over the homes for around two-thirds of fair market value (remember these are distressed owners in urgent need of cash). With so much equity (market value less purchase price) in such properties, it is a cinch that investors will be climbing the walls to fund such deals in return for a share of the profits. The hard part is finding such distressed owners before they get into foreclosure, and of course, structuring the deal to the satisfaction of all concerned. |
Thanks, we saw a ton of that in the late 80s early 90s in UK. |
|
| Back to top |
|
|
|
Forum FAQ
Search
Usergroups
Profile
Login to check your private messages
Login
