Purchasing Pre-Foreclosure Properties (disclosure, foreclosed, sale, value)

[drhame1]

I am trying to Purchase Pre-Foreclose properties, before the auction. Is anyone doing this and can offer any advise, on finding these properties etc.. all info welcome. thanks

[399083453]

Most all the properties around here that are foreclosed on ...... the person owes more than the house is worth. If it were worth more than they owed and they got into financial trouble, they would simply sell it and make money.

So you have properties with $200k loan on them, with a current market value of $100k, people simply have to wait until the bank forecloses and lists them for sale at $100k.

[TexasDillo]

Originally Posted by drhame1

I am trying to Purchase Pre-Foreclose properties, before the auction. Is anyone doing this and can offer any advise, on finding these properties etc.. all info welcome. thanks

Pre-foreclosure information can be hard to come by. It's almost like insider information -- knowing something before it is known to the general public. Living in a disclosure state might help substantially.

I did find a relatively recent article that talks to this, in a small degree. Internet searches will like identify more information.

Hope this helps.

Where Can I Find Pre-Foreclosure Listings?