‘Foreclosures’ Archives
Chicago 4.57 years of Vacant Properties
My spouse and I were watching the 10pm NBC Channel 5 news around 12/28 and they run a headline on the Occupy Foreclosure Movement in Chicago about a single mother with 7 kids that is occupying a vacated home. A local church group [Click to Read More...]
Foreclosure Basics
Purchasing a foreclosure can be risky but an often rewarding experience financially and also emotionally. Not all foreclosures are good deals, and some need in excess of $10,000 worth of repairs, and/or are located in high life risk [Click to Read More...]
Purchasing a Foreclosed Property
Once you find a foreclosed property you have to be able to buy it. You can finance the purchase of some foreclosed properties, but most have to be paid for in cash because they are in such bad condition. Most people buy foreclosures after the Bank [Click to Read More...]
Foreclosures, Redemption, Judicial Deeds, and Deficiency Judgements
Judicial Foreclosure Judicial Foreclosure allows the property to be sold by court order after the borrower has been given sufficient public notice. The property is sold in an auction at the courthouse. Non-judicial Foreclosure is allowed when [Click to Read More...]
Pitfalls of Buying a Foreclosure
Property Condition Banks and Government agencies are exempt from any property disclosure laws. This gives them an unfair advantage over you. When the Bank or Government Agency takes back a property they have already hired contractors and realtors [Click to Read More...]
