Overview

Foreclosed properties offer an excellent opportunity to purchase real estate at well below market value.  December is when lending institutions and HUD/VA need to reduce their inventory of foreclosed homes.  There are foreclosed properties in almost every neighborhood.

For 1st time home buyers, a foreclosed home can provide an opportunity to purchase a home in a good neighborhood with a monthly payment that may be equivalent to the rent they are paying.

Purchasing a foreclosed home does present some challenges in that they do not come with a warranty and are purchased "as is".  However, there is a program available, FHA Stream Lined 203. that helps to alleviate this problem. The Stream Lined 203 program combines the purchase price with the cost of repairs (up to $35,000). In most cases, the home owner ends of with a home that is completely updated and still cheaper than most other homes in the area.

Investors should take note that single family homes are the largest part of the foreclosed homes inventory.  Purchasing homes at these firesale prices offer an excellent opportunity to make a good return on your investment.

Want to take advantage of this opportunity?

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