Foreclosures Help Information

Archive for April, 2009

Foreclosed Luxury Homes

Question: If I were a terrorist, would you agree with my intellect?

If I were a terrorist and I wanted to destroy people’s lives I would foreclose on millions of homes, you know - kick folks out of their houses.

I would de-value the people’s money so the price of everything would go up. I would outsource their jobs so they couldn't find work. I would move the factories to foreign countries - all the good-hand factory jobs.

I would make education unaffordable; terrorists don't like having heavily educated people around. I would make healthcare difficult to get and allow the insurance companies to just get away with murder.

I would monitor their telephone calls, monitor their emails and use that information to really 'stick it to them'. Then, I would give myself a big old tax cut, sit back in luxury and watch the people fight over the crumbs.

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Answer: PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE dont do this in real life... but yes, you are a smart terrorist... you would prob cause people to commit suicide, and be on the streets and die... so PLEASE dont! but yes, you would make a good terrorist... and thank god 2day's terrorists rnt as smart as u....

FORECLOSURE-Luxury Home-A diamond in need of polish

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Foreclosed Real Estate Sale

Question: you give a bank your taxes information, bank info, and check stubs for a short sale can they use it aganist u?

My Real Estate agent wants to short sale the house it is due to foreclose in a month and we have a cash offer, but the short sale process is asking for tax info, bank infor and check stubs I am worried they will use it against me. Should I not worry and just do it since it is better then foreclosure.

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Answer: Of course they can! They want to make sure that you really can't afford the place and really have no money before giving you permission to screw them out of cash.

good luck!

Real Estate & Mortgage 1 - Foreclosure Meltdown Fraud & Scams Dec08 - First Time Home Buyers

Buying Foreclosed Property In Florida

As many of you will be aware, investors have been purchasing foreclosed properties in places like Orlando, Florida since early 2008. They have been doing this because it is an excellent way of purchasing an undervalued buy to let asset.

However it can be a frustrating experience as well, as clients are often bidding against several people for the same property, and once an offer is made, you usually have to wait 2-3 weeks to receive an answer.

If the bid was unsuccessful we need to start again. Once a successful bid is accepted and processed, the management company process starts, with the lucky landlords finding new tenants within 4-6 weeks. If a person was unlucky enough to receive “your bid was not successful” messages three times, he could easily have wasted 3 months trying to purchase a foreclosed property with absolutely nothing to show for it!

Even if you were lucky enough to have a bid accepted and you (or your agent) managed to navigate your way though the extremely slow and bureaucratic title companies – you might not get a tenant very quickly. I know of several people who had to wait more than 3 months for this – that’s three months paying HOA and Real Estate taxes without any income to show for it.

After I’d spent many months purchasing and helping people purchase property this way, it became evident that there was a much better way of doing this, both an agents and a buyers point of view.

As has happened in Ireland & the UK, when the credit crunch was causing misery for local Orlando developers quite a few decided to try and ride out the storm by furnishing and renting out the remaining units themselves while waiting for the market to turn. Makes sense right?

But what if you can find a developer who owned and rented high quality units and was about to be foreclosed by a bank? Let’s say you find one who needs to raise $5 million in 30 days or the bank will seize his assets. Would he be willing to sell 100 of his properties to investors with tenants in place at a foreclosed price level (say $50,000) in order to avoid the excruciating foreclosure process? The short answer is yes, he certainly will!

This method has all of the benefits of a foreclosed property (highly discounted price, v high rental yield) with none of the headaches (bidding process, red tape, finding tenants). If you can tailor your search for these types of tenanted units, then everything becomes a whole lot quicker – and much more profitable.

About the Author:

Torcana Ltd is a property investment consultancy dealing with investments in foreclosed property, distressed property, and discounted property in USA, Spain, UK, and Panama. For more information please visit: - http://www.torcana.com

Article Source: ArticlesBase.com - New Ways of Purchasing Distressed & Discounted Properties

Foreclosed Properties Fort Lauderdale Florida