These days, one of the easiest ways to save money on real estate is to buy bank owned foreclosures. Bank home foreclosures are a unique form of repo homes for sale in cities across the country including New York, Los Angeles, Miami and more.
Bank Foreclosures
Bank Foreclosure Real Estate is a growing market for real estate investors. These properties are ones still owned by the bank and the bank may remove fees and liens in order to get these properties sold. These properties offer a great return for investors, typically much larger that regularly foreclosed homes.
Buying bank foreclosed homes
When you buy from a real estate agent, the chances for getting substantial savings are very slim. An agent is not only trying to sell the home for the biggest price to benefit its owner, but the more they sell a home for, the bigger their own commission is! For this reason, buying bank foreclosure properties can be a much better way to find a truly discounted price on a home.
Easy Ways To Handle Bank Foreclosure
Recently, my significant other and I found ourselves facing bank foreclosure on our home. We knew it was coming. We had missed several mortgage payments while we were laid off from our jobs at the mine. Stupidly, we decided not to communicate our problems to the bank. We tried to make do with part time jobs at fast food restaurants, but trying to make all of our payments on time and still have money to buy diapers and food for the kids was very difficult. It was a scary situa…