Depending on which
stage of the foreclosure process you are in, it may be possible.
Most properties experience their lowest sale prices at
this stage of the foreclosure process.
So let's talk about the different
stages of the foreclosure process.
Loan modifications and refinancing are two options that you might consider in the early
stages of the foreclosure process.
There was also a 0.2 percentage point decline in the share of mortgages in
some stage of the foreclosure process.
Not exact matches
«Detailed questions regarding
foreclosure procedures should be avoided, especially in the early
stages of the mortgage application
process,» says Rhett Struve, realtor for Keller Williams Premier Realty in Lake Minnetonka, Minn. «Lenders will view this negatively because it displays a potential inability to make the necessary monthly payments.»
Both the closing
process and the ultimate price
of a foreclosed property depend on the
stage of foreclosure that the property has reached when it goes up for sale.
More specifically, locating a foreclosed home depends on where exactly it is in the
foreclosure process: Properties can still be owned by the original homeowner (in the earlier
stages, in case
of pre-
foreclosure and short sale properties), or by an entity such as a bank or the government (in the later ones).
Each
stage in the
foreclosure process can become very profitable when you understand each
of the different
stages and use creative real estate investing techniques.
By late 2007, U.S. home
foreclosures had doubled compared with the prior year, with one in every 134 households across the country in some
stage of the
process, according to RealtyTrac.