| Technically speaking, pre foreclosure homes are | | | | bank, just to even out their accounts. Some buyers |
| homes that have been scheduled to be sold as | | | | have managed to find homes in pre foreclosure status |
| foreclosures, but have not actually been listed on a | | | | that were being sold for as much as fifty percent off |
| foreclosure or bank auction and have not yet been | | | | of the current market value of the home. Not all pre |
| sold to someone. The time a house spends in pre | | | | foreclosure homes are listed with real estate agents or |
| foreclosure status can last anywhere from a single | | | | on foreclosure listing websites. This is because the |
| month to an entire year--it depends on what the local | | | | home owners are often embarrassed about defaulting |
| and state laws are. Most home owners do their best | | | | on their home loans and want to keep their current |
| to sell their homes before the home enters pre | | | | financial difficulties out of the public eye. Homes that |
| foreclosure or foreclosure status. Purchasing pre | | | | are set for foreclosure are often listed as rent to own |
| foreclosure homes, if you can find them, can be | | | | or as "for sale by owner" because the seller does not |
| lucrative investments. Usually the owner of the home | | | | want to have to pay for bank fees, and often just |
| will be willing to sell the home for quite a bit lower than | | | | wants to get the remainder of the mortgage |
| the market rate because they want to keep the | | | | transferred into someone else's name. When you do |
| foreclosure status off of their credit histories. Some | | | | find these homes, however, you can bet that you will |
| home owners in pre foreclosure status will sell their | | | | be getting a great deal. |
| homes for the same amount that they owe to the | | | | |