| A lot of people that are looking into getting into real | | | | lot of real estate for sale is the Veterans |
| estate investing realize that investing in foreclosures is | | | | Administration. The VA makes low interest loans |
| a great way to save some money and get a good | | | | available to men and women who have served in the |
| deal. People realize that when someone doesn't pay | | | | military. Unfortunately, there are times when these |
| their loan the bank will be forced to take the house | | | | people are unable to keep up with their loan payments |
| back and will need to sell it. What some people are not | | | | for whatever reason and because of this the VA |
| aware of though is that banks are not the only | | | | ends up with properties that need to be sold and you |
| institutions with real estate that needs to be sold. | | | | don't have to be a veteran to buy these repossessed |
| Government foreclosures can be a fantastic | | | | properties. |
| investment opportunity and there are several different | | | | Even the IRS ends up with real estate that needs to |
| government agencies that have properties for sale. | | | | be sold. The IRS will sometimes take someone's house |
| One such organization is HUD or the Department of | | | | when that person has failed to pay their income taxes. |
| Housing and Urban Development. HUD is a branch of | | | | The IRS is not in the real estate business and does not |
| the FHA or Federal Housing Authority which | | | | want to own a bunch of rental properties. They need |
| guarantees certain types of bank loans. When a | | | | to sell these houses. |
| homeowner defaults on a bank loan that is guaranteed | | | | Banks and credit unions are not the only institutions |
| by the FHA ownership of that property will revert | | | | with an inventory of real estate that needs to be sold. |
| back to HUD which then has the responsibility of selling | | | | Government foreclosures can be a potential gold mine |
| the property. | | | | for investors where they can find quality properties at |
| Another government organization that ends up with a | | | | rock bottom prices. |