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The emergence of desperate sellers means two things to buyers looking for seller financing: First, you’re going to find many more properties offering creative financing. Two, many sellers won’t be honest in their dealings. When done correctly, seller financing can benefit both parties. However, buyers should reconsider deals with sellers that are already facing foreclosure and [...] [...more]
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Under the new Homeowner Affordability and Sustainability Plan, a whopping 9 million Americans may be able to refinance with lower rates and incentives for paying on time. Although the complete details won’t be available until the beginning of March, the White House just released their preliminary plans. Basically, there are two groups of people the foreclosure [...] [...more]
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Buying a home that’s been through foreclosure has the same requirements as purchasing any property. It is possible to take out an FHA loan to buy a foreclosure home. However, there’s one big problem: foreclosure properties are often so trashed that lenders won’t issue a mortgage for them. I once walked through a home where the [...] [...more]
