Preforeclosure Investing - When is it a deal?

by: Leslie Collins - 9/2009
"Targeting and purchahsing properties in preforeclosure and earning a nice profit can be easily learned...

When is a preforeclosure a deal?

Some of the most profitable deals are made targreting homeowners in preforeclosure. These are home owners who have missed several mortgage payments resulting in their lender filing a Notice of default or Lis Pendens. At this stage (preforeclosure stage) it means that there is no actual judgement date or sheriff sale set...which is basically an auction set at the county courtyhouse to sell the property. During the preforeclosure stage the homeowner still has choices available that can prevent foreclosure on the property..the key is acting quickly. Many times contacting a homeowner in distress and getting him or to sell their home to you.. before the auction, is a blessing in disguise for the homeowner. Here's why its win-win for you the investor and the homeowner: If the homeowner goes into a full blown foreclosure and auctions the house at a sherrif sale their credit is pretty much destroyed because they'll have forelosure on their credit report PLUS they wont get a dime for any equity that may be available. If there is sufficient equity (the loan balance minus the after repair market value of the home) in the home...there's a good chance the homeowner can stop the foreclosure and walk with some cash for a fresh start, If he sells to an investor who can either hold the property and sell it or assign the contract to a real re-habber. Either deal is very profitable. The major benefit to the homeowner is that the loan will be brought current, all the backpayments are paid which is an instant boost to the homeowners credit plus there will be no nasty foreclosure on their credit history. So whats involved in making one of these profitable deals?? Example preforeclosure deal will break down the numbers to show where the profit is in a typical deal. Learn to do contract assignments and flip preforeclosures and abandoned properties the correct way. You wont need any of your own money. Find and Assign for Profit, the sales page has tons of real information describing EXACTLY what you will learn, and the steps involved. Also this course has all the legal docs you'll need to protect yourself, and make your contracts binding.


:: Mortgage Calculators

Mortgage Calculator 15- 30 Year Calculator Points Calculator Pre-Qualify Calculator Affordability Calculator Main

:: FHA Loans

FHA Requirements FHA Approved With Bad Credit FHA Loan Qualifications FHA Loan Qualifications - Non traditional credit FHA Loan Credit Requirements FHA Approved Lender FHA Bad Credit

:: Mortgage Topics - General

Mortgage Questions and FAQ's What Documents Do I need For A Mortgage Application? Front End Ratio Back End Ratio Stop Foreclosure Buy Foreclosure Properties Foreclosure Training Equity-Home-Loan-Minnesota Interest Only Mortgages Online Mortgage Application Adjustable Rate Mortgages Explained ARM - 3/1 and 5/1 Explained Mortgage with Bad Credit - Hidden Fees To Avoid Bad Credit Mortgage- Facts Borrowers Should Know

:: Foreclosure Training

Pre Foreclosure List Buying Preforeclosure houses - how to estimate repairs Buying Preforeclosure houses - When is a preforeclosure a deal? Buying Preforeclosure houses - Preforeclosure deal example Buying Preforeclosure houses - what to say to the homeowner Foreclosure Training - Expense or Investment? Foreclosure Investor - Must Know Topics Foreclosure Training - Why Is It Important? Foreclosure Training - Types of Training Best Foreclosure Training Foreclosure Training Methods Foreclosure Training Resources Foreclosure Training Approaching Homeowners Flipping contracts - step-by-step Flipping contracts - e book

:: Buy Foreclosures

4 reasons to Buy Foreclosures Buying Foreclosures -Opportunity Stages How to find Foreclosures View Foreclosure Listings FREE Foreclosure profits using NO cash Search Foreclosures by ZIP Short Sale

:: Credit Topics

Understanding your credit score Mortgage Ratios Debt to Income Ratio Fast Cash Loan How Bad Credit Affects You Getting Credit After Foreclosure Consequences of Bad Credit How to Increase Your Credit Score Credit Repair Program Free Credit Report Why Use Professional Credit Repair Service? First Time Mortgage Bad Credit First Time Mortgage Bad Credit - How to Negotiate Loan Terms Bad Credit Home Loan Refinance 3 Factors in Finding a Mortgage Company for Bad Credit Borrowers How Anyone Can Lower Their Interest Rate Bad Credit Home Loan Refinance - Fees You Can Avoid

:: Articles - Resources

Browse our mortgage archives
Mortgage Articles -Resources