| Yes - you read it right - according to the statistics | | | | foreclosures can be your very first targets. Not only |
| released by The Center for Responsible Learning | | | | you get assorted varieties of housing properties - |
| (CRL), it is estimated that Bank foreclosures have | | | | single family homes; down town apartments; |
| reached the magic figure of 1 million, so far in the | | | | suburban villas and farm houses; multi-residential |
| year 2009. Another statistical fact is, according to the | | | | premises like condos in formidable communities and |
| National Delinquency Survey conducted by the | | | | neighborhoods, but also get them at prices well |
| Mortgage Bankers Association (MBA), another 12% | | | | below their market value, anywhere by 30 to 60% |
| of mortgage loans are running the risk of foreclosure | | | | less. |
| and will be added to this astounding figure of Bank | | | | The same benefit applies for investors from Bank |
| foreclosures. | | | | foreclosures, as they can buy innumerable properties |
| One can understand the volume of devastation being | | | | of various sizes, models, accommodation, square |
| caused by the foreclosure fiasco, in the US Real | | | | footage etc. at competitive rates. Banks lend |
| Estate markets, by the above figures. Industry | | | | mortgage loans to varieties of customers from |
| experts estimate that on an average nearly 6500 | | | | different ethnic groups, of different income groups, |
| foreclosure filings are turned out daily, in all the | | | | and of different life-styles. As such the delinquent |
| States of US put together. In spite of the US | | | | properties brought under Bank foreclosure listings will |
| Government taking steps to address the foreclosure | | | | be very much varied, to fulfill the needs of every |
| problem, by allocating funds for helping mortgage | | | | one. Of them, properties that need some repairs and |
| lenders to work out solutions with distressed home | | | | rehabs offer more profits, since there will not be |
| owners to avoid foreclosures, the crisis continues to | | | | much competition in taking them. Investors can make |
| wreak havoc on Real Estate markets. | | | | huge profits by spending some initial capital to fix |
| The predictions made by CRL are even more | | | | them up and can rent them for deriving a steady |
| threatening. The number of US households affected | | | | income month after month or re-sell them with higher |
| by foreclosure problem will increase to 9 million and | | | | margins for buyers ready to occupy such renovated |
| 92 million families will lose home values of about $1.9 | | | | properties. |
| trillion. Already in 2009 the foreclosure epidemic | | | | Surely home buyers and investors can start their |
| engulfing the US country, has reduced home values | | | | search for a best suited property from Bank |
| of 70 million properties - both secondary homes and | | | | foreclosures and buy them when the time is ripe by |
| foreclosed homes along with new homes. | | | | negotiating with the home owners directly at the |
| Now this is the situation obtaining in US Real Estate | | | | pre-foreclosure stage; bid for the chosen property at |
| markets. On the brighter side of it, first time home | | | | the foreclosure public auction; and get them from |
| buyers for settling down in prime locations, as well as | | | | Bank-repossessed properties. Whatever way they |
| investors who want to buy homes for renting or | | | | choose, they are sure to pocket thousands of dollars |
| resale, are offered a never-before opportunity. If | | | | as savings in every sales deal. |
| you are a home buyer for the first time, Bank | | | | |