Does anyone know of a website for bank or private investor foreclosed homes, that is Free?
Right now, most bank owned (also called REO) properties are priced at current market value or slightly higher due to the declining prices in most area. Foreclosures are generally NOT the moneymakers that they once were. It costs banks many thousands of dollars to foreclose on a property, and they are interested in getting back their initial investment, plus some. The way to make money on foreclosed properties is to get to them before they have been foreclosed upon! Contact a local title company and see if they will provide you with a list of properties where a NOD (Notice of Default) has been filed. Then, if the properties are something you are interested in, see if you can work something out with the homeowner before it goes into foreclosure. You of course would have to pay off the current loan, but if you can find someone with a good amount of equity then this is the way to go. I have had clients purchase properties for $5,000 over the current loan amount (so that the seller could wa
