What is the Best Way to Find Bank Foreclosed Houses to Buy?
Bank foreclosed houses are everywhere. With hundreds of homeowners defaulting on their mortgage, more and more bank foreclosures are placed on the market for sale. And almost all of them are priced below their current market value. If you are on the market for bank foreclosures to live in or to repair and re-sell, then there are many ways to find these cheap properties. Take time to explore each option before you decide on the best way to buy bank foreclosed houses. Short Sale: This option to buy bank foreclosures depends heavily on the lenders, whether they will accept short sale or discounted payoffs. Short selling means that lenders have agreed for homeowners to sell their distressed properties and to accept the total sale cost as payment for the unpaid loan balance. Homeowners may opt for short sale in an effort to avoid foreclosures and to save their credit score. If you plan on buying a bank foreclosure through short sale, make sure to talk to the lender or the person responsible
