Archive for the ‘buy a foreclosed property’ Category
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Buying Foreclosure Property for Pennies- Stone Equity Group
July 14th, 2010 | 
Author: 
http://www.stoneeg.com/ An Exclusive interview with Yusuf Kargbo from Stone Equity Group revealing opportunities to buy homes and real estate foreclosure properties at very cheap prices. Watch out for the whole process of buying foreclosure homes and Get an affordable nice place to live.
Foreclosure Investing, Real Estate Investing, REO Foreclosure Investing, Foreclosure Properties, SEG, Stone Equity Group
Duration : 0:5:54
Posted in buy a foreclosed property | 
Tags: foreclosures, investing, investing in foreclosure, real estate, real estate investing, REO's | 
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Las Vegas Real Estate Update-Buying a Foreclosure
Southern Nevada real estate experts Kendall Trotter and Jason Van Zant discuss successfully investing in REO bank owned foreclosures. Mr. Van Zant currently keeps over 100 foreclosure listings consistently in his pipeline. Excellent info for anyone interested in purchasing a foreclosure home.
Duration : 0:10:16
Buying foreclosed properties with Liens attached.?
How and who pays for the liens ie. R.E.tax lien, IRS liens and mechanic liens on a foreclosed property If I want to buy it? What happens to the owner who declared bankruptcy ?
I bought a foreclosed house last year that had been vacant for two years. The owner was Fannie Mae. Part of the deal was they had to pay off the back taxes and I got the house clear.
So the answer is, if you put in a bid, make sure there is a clause in there that makes the SELLER responsible for paying he back taxes, liens, etc.
A good real estate agent and attorney should be able to cover all your bases on this.
CNN on Staying in Your Foreclosed Home
Stay Put
Produce the note Follow the law
Wall Street and its co-conspirators on Main Street had a great plan.
Step 1: Ram predatory loans down the market with fraud and deceptive marketing.
Step 2: Some of the loans will blow up, but in the aggregate it will all work out and besides, the loans will be bundled and sold off to investors (spreading the toxic waste), so who cares?
Great plan, but it had a few problems.
Problem #1: It destroyed the world financial system (minor detail)
Problem #2 (And he’s where it get VERY interesting…) For a loan to be valid, the lender needs to be able to produce the paperwork.
Guess what? In their mad greed to screw the American people and line their own pockets, Wall Street forgot that little detail.
Many of these loans and been sliced and diced and sold and re-sold so many times that not only is the paperwork not easy to lay hands on, in some cases, it’s not clear who actually owns the loan.
Here’s where property law comes in.
If the bank can’t produce the documents and the real owner of the loan can’t be identified, the contract is null and void.
You’ve got to hand it to Congresswoman Marcy Kaptur (and Ohio which produces a lot of great Congresspeople.)
By telling a bank to “produce the note,” a homeowner can delay foreclosure by forcing the lender to prove the suing institution is actually the same which owns the debt.
Now, the banks own sloth and disorganization (and inherent dishonesty) can be used against it.
Final word: The media (and Wall Street and its criminal partners in Congress and the former Bush White House) love to call these loans sup-prime.
Here’s the old fashioned word: predatory.
Many of the loans that were made in the past five years that have created so many problems would have been illegal until Bush & Co not only gutted lending laws, but also literally sued states to stop them from enforcing their own lending laws.
Former governor Elliott Spitzer was the ring leader of the state movement to enforce local lending laws…and you saw what happened to him.
He’s no saint (and truth be told, he’s kind of a jerk) but if every politician who went to hookers was busted, Washington and all the state capitals would be ghost towns
Duration : 0:3:56
What are the pitfalls of buying foreclosure property?
Real estate tips from Kathy Bertani of RE/MAX. Information is provided by “It’s Time to Move Up”, the real estate resource
for consumers who want their questions answers in ways they can understand. For more information please visit www.itstimetomoveup.tv or www.kathybertani.com
Duration : 0:1:31