An Additional Web Site Tool (Chicago, Wheaton: for sale, real estate, foreclosures)

[HOWELL_STREET]

Dear Friends:

On the City-Data 'Mortgage' Forum, "banker 0679" (A senior mortgage processor) has recently mentioned about a web site that will help in determing whether a 'given' house has a mortgage lien, etc. This site is loaded with a lot of public record information. It is known as NETRonline.com Real Estate Information & Public Records Research and I highly recommend it for people seriously contemplating a move to the Chicago area. Thank you to "Banker 0679" (on the Mortgage Forum) for this information.


Carter Glass,
Wheaton, IL

[HOWELL_STREET]

As a follow up to my above 'OP', I visited NETRonline.com Real Estate Information & Public Records Research and looked at their foreclosure list for Wheaton, IL (60187). And I was amazed at all of the foreclosed homes in the Wheaton area. Qty = 261 to be exact. I knew there were a lot of homes for sale, but did not realize the quantity of foreclosed properties. So anyone contemplating a relocation to Wheaton, should first spend some time in this great web site !!


Carter Glass

[purplesky]

Good website, it's interesting to note the number of preforeclosures that are on the list. What do you need to buy a preforeclosure and/or foreclosure? Do you need to pay cash upfront or is it just 20% down?

[Loren Shevitz]

The term "preforeclosure" is thrown around willy-nilly. Basically, the banks don't like getting into the listing business, and they are trying techniques such as short sales to avoid that. You might say that a short sale is a kind of preforeclosure... To answer your question, they are generally looking for at least 20% down, but you usually don't have to pay all cash.