I am a HUD Brokerage?
I am a licensed real estate broker. HUD NAID and i will process your offer. WE are a HUD Authorized Company
Are foreclosures an option?
A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage.
Most people look here, www.hudhomestore.com I do first look at hudhomestore
Thousands of homes end up in foreclosure
every year. Economic conditions affect the number of foreclosures, too. Many
people lose their homes due to job loss, credit problems or unexpected
expenses. It is a possible money saver buying foreclosed homes. Many
experts, in fact, advise calling someone who has sold many hud homes. to advise them. I Have. process many. It is important to have the house thoroughly inspected and
to be sure that any you are prepared for repairs,Many loans hud offers to finance repairs into the sale price can be done. I have experience with these loans tools.Do you have the credit.?.
What types of foreclosure are there?
Judicial foreclosure action is a proceeding in which a mortgagee, a trustee or another lienholder on property requests a court- supervised sale of the property to cover the unpaid balance of a delinquent debt. Nonjudicial foreclosure is the process of selling real property under a power of sale in a mortgage or deed of trust that is in default.A title search prior to closing will address most any issue and most are resolved prior to the property being offered for sale.
How do you find government-repossessed homes?
Go To above link to hudhome store.
Can I get a HUD home for as little as $100 down?
If you are strapped for cash and looking for a bargain, you may be able to buy a foreclosure property acquired by the U.S. Department of Housing and Urban Development for as little as $100 down. With HUD foreclosures, down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range from 5 to 20 percent. But when the property is FHA-insured, the down payment can go much lower. Each offer must be accompanied by an "earnest money" deposit equal to 5 percent of the bid price, not to exceed $2,000 but not less than $500. The U.S. Department of Veterans Affairs also offers foreclosure properties which can be purchased directly from the VA often well below market value and with a down payment amount as low as 2 percent for owner-occupants. Investors may be required to pay up to 10 percent of the purchase price as a down payment. This is because the VA guarantees home loans and often ends up owning the property if the veteran defaults.
If you are interested in purchasing a VA foreclosure, call 770-728-2308 to request information
Where can you find foreclosures?
2nd Tuesday of every month at your local courthouse square, Georgia ONLY, Bring Certified Funds and Bid Away
Where do I learn about HUD foreclosures?
One good source
is their Web page www.hudhomestore.com
What are problems buying foreclosures?
Buying directly at a legal foreclosure sale is fun. It is strictly caveat emptor ("Let the buyer beware"). The process has many advantages. There is no financing; you need cash and lots of it. The title needs to be checked before the purchase or the buyer could buy a seriously deficient title. The property's condition is not well known and an interior inspection of the property may not be possible before the sale, Georgia is a non-judicial foreclosure state.
What about buying a foreclosure "as is"?
Buying a foreclosure property can be entertaining. Usually, you buy a foreclosure property as is, which means there is no warranty implied for the condition of the property (in other words, you can't go back to the seller for repairs). The condition of foreclosure properties is usually not known because an inspection of the interior of the house is not possible before the sale. In addition, there may be problems with the title, though that is something you can check out before the purchase.
How do you get financing for a foreclosure?
One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property. You generally need to show up with cash and lots of it, or a line of credit with your bank upon which you can draw cashier's checks. Win the Lotto