What Is Pre-foreclosure?

(EMAILWIRE.COM, December 11, 2007 ) St. Augustine, FL--Homeownership is becoming a reality for more and more Americans across the nation. Over the past seven years, homeownership numbers reached almost seventy percent, even with critical mortgage issues looming, the increase reflects the highest rate ever. Americans don’t realize that homeownership and investments are still with in their grasp. One of the ways is through pre-foreclosure. Pre-foreclosure is a procedure in which the borrower is allowed to sell their property for an amount less than what is owed on it to avoid a foreclosure. This sale fully satisfies the borrower’s debt. With pre-foreclosure many properties have equity available due to a purchase price below market value or short sale on the part of the bank. New construction is standard for many foreclosure properties due being one to two years old with builder warranties still in place. For investors, the property is ready to rent, such as pre-foreclosures; the sellers are often interested in renting the home as a tenant. This gives them time to repair credit and perhaps re-purchase the home in the future and if the investor is seeking the home, it’s ready to move in for owner occupied. The best feature is more house for less money. The great thing about this market is that investors can get in the game before or after auctions. It’s possible to buy directly from homeowners beforehand or from lenders who are successful in the auction. Some states give foreclosed homeowners time to reclaim their property by paying the auction price, often plus an additional percentage. Professionals specialize in niches, such as low-income housing or condominiums. Less seasoned investors should stick with single family homes in lower middle to middle class neighborhoods, where resale likely will be easier. As interest rates rise, more and more homeowners are falling into foreclosure situations. Clearly this reality prompts flood of bargain-hunting investors in every real estate market and courthouse auction across the country. “Jeff Kaller has given me the road map to take my life to a new and exciting level. Everything about Jeff Kaller’s event was tops. I think the revolutionary business system that Jeff has introduced me to is second to none.” Says, John E. C., Greensboro, NC
The benefit generated by the pre-foreclosure investment strategy is that the buyer provides a source of support and safety to the homeowner. Selling to the investor at an attractive discount, the homeowner’s credit is salvaged and the bank is kept from foreclosing on the property and selling the house at a public auction. Kaller specializes in The Art of the Pre- Foreclosure, locating properties that are behind in payment and when the lender has not taken action.

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Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)

Mary Geronimo
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
http://www.FreeShortSaleCourse.com

Paramount Promotions LLC
Mary Geronimo
904-819-0676
mgeronimo@thejeffkaller.com