Hardly a week goes by that I don’t have a buyer contact me to inquire about a home listed in pre-foreclosure” on Zillow or RealtyTrac I believe websites that promote pre-foreclosure listings are doing a huge disservice because buyers are confusing what is available inventory and what is not. Adding to the burden, the number of homeowners 50 and older who own their homes free and clear fell between 2000 and 2009, according to an institute report And in the lowest income group of people 65 and older without mortgages, 58 percent of them were spending at least a third of their income on housing.
He’s also a powerful state senator who chairs the Committee on Business and Commerce and who, back in 2001, authored the law that enshrined pro-industry HOA foreclosure practices in statute, ensuring that associations like Brookfield’s could continue to aggressively collect fees and dues from homeowners.
If the property is not sold during the public foreclosure auction, the property is then listed with a real estate agent. While we make every effort to help customers remain in their homes, sometimes foreclosure becomes the only option. You might also want to try your hand at bidding for a foreclosure on the courthouse steps.
All told, 233,299 bank-owned homes or those in some stage of foreclosure sold in the first quarter, making up 26 percent of all U.S. home sales in the period, the firm said. Elaine Zimmerman, a real-estate investor and author, recommends that shoppers first visit any site with a database of foreclosed homes.
A property is in pre-foreclosure after the mortgage lender has notified the borrowers that they are in default , but before the property is offered for sale at auction. The number of homes slated for foreclosure continues to rise in Tarrant County, with 1,101 headed to auction next month.