Sub-prime Mortgages cause the Pre-foreclosure Market to Boom

(EMAILWIRE.COM, March 28, 2008 ) Los Angles, CA -- Buying a foreclosure can be a lucrative investment, locating a foreclosure before anyone else allows you to be the only person negotiating with a motivated seller. To learn more go to http://www.freeshortsalecourse.com/.
Buying a property in pre-foreclosure involves approaching the borrower or owner and offering to buy the property outright which means at a discount. The owner benefits from this by walking away from their and avoiding a bad mark on their credit history. This pre-foreclosure process also gives the buyer the time to research the title and condition of the property.
Deals of this nature typically realize discounts of 20 to 40 percent below market value. In today's heated sub prime market, those numbers are very realistic. With the foreclosure rate running at a record-setting pace it is understandable why many homeowners are willing to do anything or sign anything to keep from losing their homes. Clearly today's market environment is attractive to the pre-foreclosure investor. According to the Mortgage Bankers Association, consumers with normally good credit are also defaulting on their mortgages.
More than 5 percent of loans across the country were delinquent, up from last year. It should be noted that delinquent loans do not include homes in foreclosure however they maybe in the pre-foreclosure stage. Equally noteworthy, trillions of dollars in mortgages will reset by year's end so homeowners who were able to pay their mortgage bills until now, may be at risk of missing house payments as well.
Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. To learn more go to http://www.freeshortsalecourse.com/

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