Jul 5, 2010 3
The meaning of foreclosed home means that either the mortgagor or the homeowner is incapable to make payments on the process of interest on the mortgage, and accordingly, the lender will seize and sell the home to recover the f Read the rest of this entry »
Jun 22, 2010 3
Make A Fortune in property By purchasing repossessions
By D.C. Fawcett, Buying foreclosure properties
Whether its owning rental properties, fixing up properties in disrepair, or buying repos, investing is still primarily based on similar principles, such as seller incentive. After all , buying repossessions at quality costs means working with sellers who are way more motivated, be they owners or the bank.
Read the rest of this entry »
May 28, 2010 1
If I knew then what I know now, I never would have voted for the war.
Ken Lucas
For me the greatest source of income is still movies. Nothing – stocks, financial speculation, real estate speculation or businesses – makes more money for me than making movies.
Jackie Chan
I have 1900 units, why do I need a 401K?
Robert Kiyosaki, recent interview Time Magazine
To thine own self be true, and it Read the rest of this entry »
Apr 27, 2010 3
With a relatively increase of the everyday commodities, more and more people are finding ways how to earn additional sources of income so as to compensate their expenses. That’s why most people who look for alternative ventures resort to real estate business.
However, even if real estate business appears to be lucrative to many, it still needs a lot of effort and skills to survive in the industry. So, for those who want Read the rest of this entry »
Jan 22, 2010 0
The foreclosure process begins by a court action being filed by the lender and a notice of pending lawsuit recorded.
The borrower is notified by mail, or person, by the lender.? The court can make a final ruling that the borrower is in default, if the borrower does not respond by a certain time.? The total amount owed by the borrower to the lender, and the sale date, can be ruled by the court against the borrower.
Under this state law, the lender is not required to notify the borrower before beginning the foreclosure process.? The mortgage or Deed of Trust may stipulate this though.? If the borrower can pay the total amount to the lender, even up to the sale date, he/she can stop the foreclosure.
After a court ruling, the sale date occurs generally around 20-35 days after.? The notice is published with the time, date, and location of the sale.? For two weeks before, the notice of sale is published once a week.
The sale is usually overseen by the clerk, and normally takes place at the court house.? Whoever makes the winning bid, must provide a 5 % deposit, and be able to pay the remaining balance by the end of that day.? If this does not occur, a new sale date is set not less than 20 day later.? A certificate of sale is given to the winning bidder.
Ten days after the sale, a transfer of ownership is given to the winning bidder, if there has been no dispute of the sale.? Most of the time, the borrower has no right of redemption, once the certificate has been issued to the winning bidder.
Integrity 1st Consulting is your Foreclosure specialist- Kathy Swift
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