Opportunities in Foreclosures
In This Chapter
• Learning about foreclosures
• Problems with foreclosures
• Bidding for properties at real estate auctions
• Bank-owned properties for sale
As a real estate investor, you are always looking for properties—whether to buy and hold, or buy and resell. And you are always looking for properties that are being offered for sale at reasonable prices and terms.
One type of property that you will want to consider for potential deals is a foreclosure. Foreclosure is the legal process by which the mortgagor’s (borrower’s) rights to his or her property are terminated. This most often occurs when the lender does not receive the monthly payments from the borrower, but could also occur for other violations ...