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Investor Resources

Now is a great time to invest in Real Estate

The Market is speaking to us - and it's saying "Now is a great time to invest in Real Estate."  The number of Short Sale, Foreclosure and REO properties available make it a veritable buffet for Investors. 

Just remember that Forclosure isn't an event - its a legal process with three distict phases.

Pre-Foclosures with Short Sale Opportunity
The time line for forclosure will vary from lender to lender - however, it typically begins with the homeowner's first missed payment.

If the homeowner doesn't send a payment or make a payment arrangement 16-30 days after the first miss, the lender will begin adding late charges. In an attempt to collect, the lender may call the homeowner and send collection letters.

Approximately 45-60 days after the missed payment, if no other payments or arrangements were made, the lender will notify the homeowner that the loan is in default. Usually, the homeowner will have 30 days to send the missed payments plus late fees to avoid foreclosure.

After 90-105 days, the lender will send the homeowner a Notice of Intent to Foreclose. This notice initiates the legal proceedings of forclosure and is usually made public.

Public Auction with Forclosure Opportunity
The home will be offered at auction after 150-415 days from the
first missed payment.

Post-Foreclosure with REO Opportunity
After the home has been offered at auction, it may go into a redemption period. In the redemption period, the homeowner can buy back their home if they can pay the lender the entire loan plus additional fees that have amassed. This period is typically 150-415 (or more) days after the homeowner's first missed payment.

The home becomes real estate owned (REO) by the lender if it doesn't sell at auction.