WHEDA Owned Real Estate

Not every foreclosure is a great bargain, and some can morph into unexpected nightmares. As the number of foreclosures climbed in the aftermath of the housing crash, lenders scrambled to offload foreclosed properties, with many piling up in minority neighborhoods where there was a high concentration of subprime loans. Junior lienholders must buy out senior lien positions and be high bidder to gain possession of the foreclosed property with clear title.foreclosed homes

He says with less inventory on the market recently, it’s getting harder to find properties, and banks are demanding higher prices even for destroyed homes. If there is a large difference between the market value of a foreclosed property and its final judgment amount at auction, you can really win big.foreclosed homes

The buying process is often sluggish, which might spur second thoughts in the minds of buyers, while heavy demand for enticing foreclosed properties might push some hopeful purchasers …