Foreclosure Management Company - Investing in Home foreclosures For Beginners

The first step in the foreclosure process is called pre-foreclosure.

Florida, FL (prHWY.com) July 6, 2012 - Florida, July 06, 2012 - The first step in the foreclosure process is called pre-foreclosure. When a homeowner has not paid their mortgage for more than ninety days the bank that owns the mortgage on that property files

If you are investing in pre-foreclosures you are buying a house directly from the homeowner. This negotiation with the homeowner is usually done without the banks knowledge. If you are investing in pre-foreclosures you will need to negotiate directly with the homeowner about purchasing their house.

Foreclosure Management Company - If the house has no equity then you will need to make a deal a short sale with the bank. A short sale is where a bank agrees to take less than the full amount owed to them. This occurs when a buyer is only willing to purchase the property for less than the amount owed on the mortgage loan by the seller. In the case of a short sale the bank is aware of the process since you will need to negotiate with them. The department at the bank that is responsible for negotiating short sales is called decline mitigation.

There are numerous online sources of pre-foreclosure lists which make the barrier to entry in pre-foreclosure investing very minimal. Anyone can become a pre-foreclosure investor simply buy purchasing a list of homeowners in foreclosure. Since the information is public record it can even be obtained for free by visiting your county courthouse.

Foreclosure Auction Companies - For this reason, pre-foreclosure investing is fiercely competitive. Since there are so many potential pre-foreclosure investors, the homeowners in foreclosure are literally bombarded with offers to purchase their homes. This makes it difficult for investors to differentiate themselves from one another to the homeowner. Additionally there is often hostility and anger from the homeowner since they do not want to be bothered by people that they perceive as trying to take advantage of their situation.

For the above reasons, pre-foreclosure committing is a difficult and competitive are of property foreclosed committing. If the house owner cannot do a loan mod or sell their home to an trader then the home goes to the property foreclosed auction.

About the Author:

Foreclosure Management Company - Fortna Auctioneers & Marketing Group is a creative, innovative, people-oriented and technologically-savvy real estate auction firm. Our work consistently delivers personal satisfaction and success, resulting in mutual pride by all parties involved in the sale.

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Contact Details:

Fortna Auctioneers & Marketing Group
26 E. Main Street * Annville, PA 17003
Phone: 717.867.4451
E-mail: auctions@fortnaauctioneers.com

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