NewsWeek

If you’re looking to buy a new house, you might become discouraged after learning that most homes in your local market are priced outside your budget. A bank may take several months to respond to a short sale offer, so the process can take considerably longer than a traditional purchase. If you buy a foreclosed home through an independent auction, you might have to pay in cash. Now, the woman who claims to have created the intellectual foundation ” for Occupy Wall Street- notorious for its anti-foreclosure actions — is revealed to have made a small fortune flipping foreclosed homes in the 1990’s.

We also have a selection of pre-owned mobile homes and pre-owned manufactured homes that are move-in-ready with financing options available. When the entity (in the US, typically a county sheriff or designee) auctions a foreclosed property the noteholder may set the starting price as the remaining balance …

A foreclosed property – also known as Real Estate Owned (REO) – is a home that was once customer-owned but has been turned back to the mortgage holder as the result of a foreclosure action or acceptance of a deed-in-lieu of foreclosure. Foreclosure by power of sale, also known as nonjudicial foreclosure, is authorized by many states if a power of sale clause is included in the mortgage or if a deed of trust with such a clause was used, instead of an actual mortgage. Patience is a virtue, and it’s one that many people buying foreclosed homes don’t cultivate.

A Resource Guide for Foreclosure Recovery – Learn ways to gracefully exit home ownership, how foreclosure affects your taxes, how to avoid rental scams, and ways you can rebuild your credit. Time from notice of foreclosures to actual property sales is dependent on many factors, such as the method of …