Jason Dodge offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: All You Wanted To Know About Foreclosures On Homes Author: Jason Dodge Category: Personal Finance, Real Estate, Wealth Building Word Count: 495 Keywords: Foreclosures on homes, buying foreclosures, investing in foreclosures, foreclosure investing Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
Economic meltdown or recession has practically touched all the aspects of life one among them is the fear of loosing jobs. Loss in jobs has resulted in defaulting home mortgage payments leading to foreclosures on homes. There has been a considerable rise in the number of homes available for foreclosures and these numbers are increasing by the day. One can find the list of foreclosure properties easily in the newspaper, magazines, on the internet and with the financial institutional. It is not uncommon for house owners to default mortgage payments in hard times. If you miss your payments for a couple of months, the recovery officer will politely check with you for the reasons. If the defaults continue and pile up month on month, the bank or the financial institution will take serious action. Before the bank reclaims its right on your property, it has to keep the property under the pre foreclosures stage. As the name itself suggest this stage is prior to foreclosures. In this stage you still have full rights on your property and can consider the option of selling it and pay the bank debt. Most of the defaulters prefer selling it at the pre foreclosures stage as they can clear the bank outstanding, keep some money for themselves and in this process avoid the trauma of foreclosures and auction of the property. But if there is no action from your end the bank takes the possession of the property and foreclosures process initiates. This process is not a fast process. From the time one starts defaulting on payments, it takes more than a year to start the foreclosures on homes. Foreclosures on homes are a cumbersome process for the banks as it is expensive and time consuming. For the foreclosures properties buyers, this situation is an advantage as they can strike a deal with the banks and expect a reduction of 20-30% of the property value. The process of foreclosures on home involves, banks conducting an auction wherein a number of home buyers, real estate agents, investors participate, unlike in the pre foreclosures stage. These auctions are also conducted online in case you are not able to attend them physically or if the property is located outside your state or county. However, bidding online is not recommended for first timers, as you would not be able to gauge the right price of the property sitting at home or office. Foreclosures on homes are a common scenario in the present time, though it can be heartbreaking experience to the house owner, as buyers or investor's one needs to look at it from business sense and make some good profits out of it. If this opportunity is not grabbed by you somebody else will do it. Don't let matters of mind be decided by heart, it's not the time to think but to act, so go ahead crack the deal, make some money and add another feather in your cap. Jason Dodge has been investing in real estate since the early 90's. He specializes in getting money for investing and recommend the free training at http://www.InvestSteps.com ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
