| Everyone is looking for a foreclosure "deal" these | | | | foreclosure. |
| days - and there's lots to choose from these days, but | | | | 4. Courthouse |
| be careful... just because a property is in foreclosure, | | | | If you're feeling ambitious, consider going down to the |
| doesn't necessarily mean it's a "deal". In fact, | | | | courthouse and looking up the foreclosure records. |
| nowadays, it takes more time to sift through the leads | | | | You will be able to access all of the lien information, |
| to find the really good opportunities within the | | | | assessed value, etc. The attorney handling the case |
| foreclosure market. | | | | on behalf of the bank will be listed as well. You will be |
| The more potential foreclosure properties you have to | | | | looking for "Notices of Default" or the "Lis Pendens" |
| sift through, the higher your chances are for finding a | | | | records. If it's your first time going to the courthouse, |
| deal. | | | | ask the clerks or the employees that are working |
| The top 5 ways to finding foreclosures are: | | | | there to point you in the right direction and use their |
| 1. Bandit Signs | | | | knowledge to learn more about the foreclosure |
| Bandit signs are plain white or yellow corrugated signs | | | | process. |
| with metal stands that stick into the ground. You can | | | | 5. Loss Mitigation Specialists |
| find preprinted signs or you can buy plain signs and | | | | You may or may not have hear of a loss mitigation |
| handwrite your message on the signs. Place them on | | | | specialist. A loss mitigation specialist's goal is to help the |
| corners of busy intersections or in neighborhoods in | | | | homeowner stay in the home and work out their |
| which you want to purchase a foreclosure home. | | | | situation with the bank. Many times, they are able to |
| 2. Foreclosure Listing Services | | | | work with the bank on behalf of the homeowner. |
| There is no shortage of foreclosure listing services | | | | However, there are also many instances where the |
| available on the Internet. Make sure to do some | | | | seller's situation doesn't allow him/her to work anything |
| homework before subscribing, however as the quality | | | | out with the bank (i.e. divorce, job loss, illness, etc.). |
| of each service can vary greatly. Find out where they | | | | Often, these same sellers find themselves facing |
| get their information, how frequently the data is added, | | | | foreclosure several months later or are simply unable |
| and when/if they clean out or update existing data so | | | | to work something out with the lender, thus need |
| that you're not wasting time or money on old leads or | | | | someone to come in and buy the home outright or |
| false information. | | | | negotiate a short sale with the bank. |
| 3. Realtors® | | | | These are the 5 easiest ways that you can find |
| Realtors® often have access to foreclosure deals | | | | foreclosure deals. If you are truly looking to get your |
| well before the homeowner has even started the | | | | hands on a great deal for yourself, or if you are an |
| formal foreclosure process with the bank. When | | | | investor looking to make a business out of |
| selecting an agent to work with, make sure that he | | | | foreclosures and short sales, it's important to use as |
| she knows the foreclosure process, how to negotiate | | | | many of these techniques - and more - to find |
| with the banks, and how to handle often stressful | | | | motivated foreclosure sellers. |
| situations that arise when a homeowner is faced with | | | | |