Abstract:
Dear Ms. Mortgage Maven, I am a first-time homebuyer and I want to buy a foreclosure property. Do you think this is a good idea? And can I get a mortgage for a foreclosure property?...
Foreclosure purchases can be interesting and certain a means of learning a process so when the time comes you will know all the pitfalls of the process. nothing that is worth something is easy but when you do your homework you can certainly pick up some left equity on a home. My suggestion is that you call your local professional and ask about what REO might be available or go to bank websites and see for yourself.
William Steiner
senior loan officer
1st metropolitan mortgage
founder of http://www.freedomloan90.com
I work at www.CurrentForeclosures.com , a foreclosures site, and we have noticed a huge increase in the number of foreclosures across the nation. This means that there are a lot of great deals out there for investors, as well as those looking to purchase a home for themselves for less than market value. Because of how many foreclosures are on the market, banks are lowering their prices on the properties just to get rid of them. I think that as long as you do your homework, and know what you are getting into, buying a foreclosure can be a great first home.
Spring Break
william steiner
posted 5/28/07 @ 2:45 PM EST
William Steiner
senior loan officer
1st metropolitan mortgage
founder of http://www.freedomloan90.com