Foreclosure,Are,Hot,For,Invest finance, share, loan Foreclosure Are Hot For Investors Right Now
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Foreclosure is a hot topic right now. You can listen to the radio or watch the news on TV without hearing about foreclosure. Foreclosures on real estate are at an all-time high right now. Due to the sub-prime mortgage debacle and the balloon interest payments coming due for many mortgage holders right now, many people are unable to make their mortgage payments which leads to the banks foreclosing on their houses. There have also been small lending companies that have been forced into bankruptcy. These finance companies can't pay their loans back to the holding banks which also leads to foreclosure on properties that they have financed. It is quite a mess.But what if you are on the other side of the fence and you are an investor who invests in real estate? Then now is a great time to pick up some bargains in the real estate market! Because the foreclosure rate is so high, banks are getting stuck (or have the possibility) or getting stuck with a huge inventory of foreclosed on houses. Banks are financial institutions; they are not real estate companies. These banks would rather not foreclose in the first place, nor would they like to hold property.A foreclosure process by a bank is a very expensive process for the bank. Not only are they not collecting any money of the property, they will more than likely receive a property that is encumbered by unpaid back taxes and liens to utility companies. This is not a great situation for the bank. So, now is the time to strike if you want to start investing in real estate.Some hot areas in the country to buy foreclosure properties are Southern Florida and the metro Washington, D.C area, especially Vienna, VA. These areas have seen tremendous growth over the past several years and many properties in these areas have gone into or are in danger of going into foreclosure. You can pick up properties for pennies on the dollar and either flip them for a profit, or hold them as rental properties. There is even the possibility that you could setup a "lease to own" program for the current property owner, especially if they are making progress towards paying down the mortgage but just can't make the balloon payment. You have many options here.So if you are thinking of investing in real estate, the iron is hot! It is time to strike now. You can either visit your local courthouse to find a list of foreclosures in your area, or you ca contact a real estate professional in your area who specializes in foreclosures to find prime properties in your area. Article Tags: Real Estate
Foreclosure,Are,Hot,For,Invest