Foreclosure: The good, the bad, and the ugly.
By CashforAtlantaHouses.com
Our nation is drowning in a sea of foreclosed properties. Foreclosed homes have become breeding grounds for crime and uninvited guests. Many vacant homes under foreclosure and being vandalized for their copper pipes and appliances. The sooner these foreclosed homes get occupied the better. This is true for residential and commercial real estate. The credit crunch has forced lenders to tighten their refinance lending standards. This is making it more difficult for Henry the Homeowner to lower their monthly mortgage payments or pull out some cash with a Home Equity Line of Credit. Families facing foreclosure are running out of options.
With the amount of homes for sale in today?s market and the influx of bank owned properties coming back on the market, there is no better time to buy to buy your dream home. Interest rates are at 40 years lows which makes it even sweeter to purchase a home.
Many people facing foreclosure bury their heads in the sand and do nothing but sit around and wait for a miracle. We all know the odds of that happening are unlikely at best. But what else can you do? First of all you can list your house for sale with your friendly real estate agent. I?m mystified why so many homeowners facing foreclosure never try and sell their homes. There are still thousands of homes being sold each month to first time home buyers, relocated families, as well as investors.
Savvy investors are buying homes to keep as rentals and others they quick turn for a profit. In my area homeowners are getting good cash for their Atlanta houses. Many of these investors pay cash and close rather quickly. They also purchase properties that need repairs which scares off many typical family buyers that do not want a project to complete.
If you are one of the thousands of American homeowners facing foreclosure, take action! Be proactive and get your house sold so you don?t reap the ramifications of foreclosure. Late payments can be rectified over time but it takes years to overcome a foreclosure or bankruptsy on your record.
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