Foreclosures on Homes in your town.

[freesurfer]

I was doing a search for ??? something....anyhow stumbled across foreclosures. I guess you'd have to be a member to view the pictures but at least you could tell if there were any in your town. There are a couple in my town and since we are slowly thinking of buying, this was cool to see what houses were for sale. But, exactly how do foreclosures work??

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[luvmetender]

The house across the street from us has been up for foreclosure for literally YEARS!! They always have the notices on the front door and the Sheriff delivering the bad news. But they always seem to dodge the bullet at the last minute. I have no idea how they do it!


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[cata5]

I don't know much about it, but I do know you can sometimes get a great deal. The lender wants to get rid of the house and sometimes that can mean a good price. Sometimes they sell these by auction.

Be aware that many times these homes are in disrepair. I heard of a home owner who couldn't make his payments, lost the house, and took everything out of the house....appliances, light fixtures, some cabinets I think...anything that could be pulled out...even the water heater if I remember right. Anyway, it was still sold at a great price to someone who figured the low, low price was a value for the "shell". It was going to cost thousands of $$ to get it back into shape, but the new owners knew it would still be a deal. This is an extreme case obviously.


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[3tbear]

There's one for $76,900.00 on the street I used to live on in Middletown, CT before we moved here. I wonder if it's our old place? You never know.