Buying Bank Owned Properties (REO)

You’ve watched the late-night infomercials and you’re ready to do the bank “a favor” and take a problem off their hands. Plus, you expect to make "a killing" in the process. Sounds great and it might just happen, but first you should take a look at some facts and get prepared.

REO vs. Foreclosure READ MORE

Buying Short Sale Real Estate

The real estate short sale is a phenomenon that has taken the real estate industry by storm in recent years. Not to be confused with selling a publicly traded stock "short," a real estate short sale involves a mortgage company accepting less than their full payoff in order to get rid of their defaulted loan prior to having to foreclose on the property. READ MORE

Foreclosure Defined

A foreclosure occurs when a property owner cannot make principal and/or interest payments on his/her loan, typically leading to the property being seized and sold.
Stages of Foreclosure

The foreclosure process is not very difficult to understand. There are several stages during which the homeowner has an opportunity to bring the loan current and avoid foreclosure. READ MORE

After about three to six months of missed payments, the lender orders a trustee to record a Notice of Default (NOD). At the County Recorder's Office. This puts the borrower on notice that he or she is facing foreclosure and starts a reinstatement period that typically runs until five days before the home is auctioned off.