http://www.mortgagecreditproblems.com/blog/trying-to-unload-your-home-with-a-short-sale-dont-hold-your-breath/ Mortgage Credit Problems: Helping You Find a Home Loan with Bad Credit Wed, 07 Jan 2009 05:06:21 +0000 http://wordpress.org/?v=2.3.2 http://www.mortgagecreditproblems.com/blog/trying-to-unload-your-home-with-a-short-sale-dont-hold-your-breath/#comment-447 Gina Pogol Thu, 28 Aug 2008 18:50:58 +0000 http://www.mortgagecreditproblems.com/blog/trying-to-unload-your-home-with-a-short-sale-dont-hold-your-breath/#comment-447 It depends on what stage the foreclosure is in but ingeneral I'd say yes. You can buy at auction with a very fast closing, but you will want to make sure first that your title is good and that the property is in decent condition. You also need to have your financing lined up beforehand. And keep in mind that in some states the original owner has the right to buy the home back within a certain time (up to six months) so you wouldn't be totally sure you owned the property until that period elapses. The safest way to buy foreclosed property is directly from the bank. Most foreclosures don't sell at auction and the bank then has them on its books. Some may give you very favorable terms on financing and you don't have to deal with title issues. however, most foreclosures only sell at about 5-10% discount so don't expect crazy bargains. It depends on what stage the foreclosure is in but ingeneral I’d say yes. You can buy at auction with a very fast closing, but you will want to make sure first that your title is good and that the property is in decent condition. You also need to have your financing lined up beforehand. And keep in mind that in some states the original owner has the right to buy the home back within a certain time (up to six months) so you wouldn’t be totally sure you owned the property until that period elapses. The safest way to buy foreclosed property is directly from the bank. Most foreclosures don’t sell at auction and the bank then has them on its books. Some may give you very favorable terms on financing and you don’t have to deal with title issues. however, most foreclosures only sell at about 5-10% discount so don’t expect crazy bargains.

]]> http://www.mortgagecreditproblems.com/blog/trying-to-unload-your-home-with-a-short-sale-dont-hold-your-breath/#comment-445 Janice Thu, 28 Aug 2008 16:46:43 +0000 http://www.mortgagecreditproblems.com/blog/trying-to-unload-your-home-with-a-short-sale-dont-hold-your-breath/#comment-445 Would it be fair to say that buying a foreclosure home is a quicker deal than a short sale? Would it be fair to say that buying a foreclosure home is a quicker deal than a short sale?

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