Short Sale, Foreclosure and Strategic Default

Loading...

Saturday, May 26, 2007

Buying Foreclosures - The Drawbacks to Buying Foreclosures

Buying Foreclosures - The Drawbacks to Buying Foreclosures

Foreclosure investors have to create a checklist. One of the things they have to consider is whether an eviction is involved.

As many Real Estate investors have learned it is sometimes better to bribe the tenants than evict them.

Another thing for a foreclosure investor to consider is that frequently the former tenants or owners destroy the property after selling off anything of value like cabinets and appliances.

I have seen foreclosure with all the granite cracked.

I suspect as some of these negative amortization loans go into foreclosure we are going to see quite a few homeowners destroy their property just before they vacate the home.

No comments: