Foreclosure Listings Are Wild Goose Chases For Clients
A Foreclosure occurs when a homeowner misses his or her payments and defaults on the mortgage. When buyers spend time researching and thinking about homes they can’t actually buy, it costs them because they miss out on what they could acquire! Investment firms like Harbour scooped up the run-down, foreclosed homes at bargain prices, selling them to families who could not get conventional mortgages but were desperate to own homes.
As of end of April, there were 637,668 bank-owned homes yet to be sold, representing a 17-month supply, Blomquist said. Councilman Tom Hucker, who was a state delegate when the legislature passed a law giving the county this authority, said banks that own these homes are often slow to get homes on the registry in order to avoid paying transfer and property taxes.
It is a good idea to work with a financial adviser or a debt counselor to understand …