I especially want to hear about nationwide macro economic trends of concern that may be contributing factors

http://promo.realestate.yahoo.com/no_slowdown_in_foreclosure_filings.html

Interested in the tony Rockridge neighborhood of Oakland? There’s a photo of a five-bedroom, 3,200 square foot house on Acacia Street whose owners received a notice of default because they owe $493,000. Or there’s a three-bedroom, 1,439 square foot home on Alcatraz Avenue whose owners have $665,000 in unpaid debt.

Yahoo executives said they started the site to help average house hunters find bargains in foreclosed properties.

Although Yahoo has allowed people to search for foreclosed homes for several years, it has created a page dedicated to the service and added how to articles and some statistical information.

Foreclosures offer a tremendous savings opportunity, yet for the average home buyer remain an area where access to information is limited. Yahoo’s site is certainly an easier alternative to hiking over to the county recorder’s office and sifting by hand through foreclosure filings. And there’s no question that the number of foreclosures is rising.

Real estate experts and consumer advocacy groups estimate that anywhere from 1.1 million to more than 2.2 million Americans could lose their homes through foreclosure over the next several years.

The rise in foreclosures nationally is due to a combination of factors, such as homeowners taking on risky or exotic mortgages and then finding their house hasn’t appreciated they way they’d been led to expect during the boom years.

This is a smart move by Yahoo to tap into a large market. This new market dynamic of foreclosures is big, ugly and unfortunate, but it leads to opportunities as well.

However, Yahoo’s site doesn’t offer all the information that buyers need, far from it. For key details like the street address of listed properties, potential buyers would need to become paid subscribers of a local foreclosure service. And buying foreclosed properties isn’t necessarily a good strategy for a novice home buyer even with the tips on Yahoo’s site.

The foreclosure process has several stages and begins when a property owner defaults on his or her mortgage.

Potential buyers can offer to buy the property directly from the owner in the early part of the process. Later, potential buyers can bid on the property at a public auction or buy a repossessed property from the lender.

I’d be hard pressed to see a first-time home buyer biting off a foreclosure as their first transaction.

The average home buyer shouldn’t do this, period.

This is very specialized game. It is not a do it yourself game. If you are a first time home buyer go to your local Realtor and get a professional to help you. Here’s their URL http://realestate.yahoo.com/Foreclosures

Generally, there are people who are unable to pay their mortgage payments due to a various number of reasons which may be led by the lender foreclosing on the property. If you have mortgaged a real estate property in Maryland, the lender has the right to take your property and resell it if you fail to make your mortgage payments on time. The foreclosure has damaging effects on your credit history; it also becomes a matter of public record.

Did you know that foreclosure on a property occurs due to several reasons? The monthly mortgage payments may not be made, or a scam may be involved and the lender has decided to increase the loan. The lender will send acceleration letter requesting the full amount due and the specific due date when the amount has to be paid.

The foreclosure proceedings will begin immediately, incase the amount is not paid in the specified time and also, the lender will increase the loan. The lender will submit the foreclosure package to the attorney or trustee; depending on the state in which the property is situated, and legal action will be initiated. The period of time in which it takes a lender to foreclose varies by state.

As soon as the attorney receives the package, his or her fees and costs become part of the amount due and the total debt. A complaint is filed by the attorney and the foreclosure process begins. Once the foreclosure sale process takes place, the property is lost. During the foreclosure sale if the former owner remains in the property then they will be expelled out. There are chances that all the personal items will either be set out on the street or stored for a specified period of time. Also in some states, individuals can be sued for a deficiency balance, and wages and/ or assets can be attached.

The receiver or the owner can hopefully have the loan restored by paying off the default amount that is owed during the grace period determined. The other name for this grace period is ‘Pre-foreclosure period’. In the pre-foreclosure or grace period, the borrower can also sell the property to another party. When the property in question is sold, it will allow the borrower/owner to pay off their loan and thus avoid the foreclosure process to proceed further. Once you are successful in avoiding the foreclosure this will help you to eliminate bad strikes on your credit history.

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As a direct result of the sub-prime lending spree that has gripped the nation in the past years we are now seeing a great number of homes being foreclosed on and sold for amazingly low prices. This gives investors interested in investing in a property a great opportunity to get themselves a great investment for less than they might expect. Foreclosures are not too hard to find either. There is also many avenues to consider as well. Just a few will be listed here. Many more creative opportunities are available.

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Buying Pre-Foreclosures

What is pre-foreclosures?

Pre-Foreclosure: Buying a property in pre-foreclosure is when the buyer offers to buy property from the borrower/owner. The borrower/owner can choose to walk away in order to avoid any bad mark on their credit history. This gives time to the buyer to research the title and condition of the property and can obtain discounts between 20-40 percent below market value. You can find great tools and course @ www.newfrontierinvestments.com

Pros: This is a great investing opportunity if done correctly. Discounts off market value can range from 20% to 35% on average. A low cash down payment is possible if structured properly. You have ample time to research properties. Unique and flexible sales agreements are possible.

Cons: It is sometimes difficult to contact the property owner. You will usually have a lot of competition. The court house research can be cumbersome. You may need to negotiate with the lien holders.

Buying reos

Great advice to consider:

Ok, so now we know why it’s a great time to invest in foreclosures. There are a multitude of ways, and they really differ from state to state, depending upon your state’s foreclosure laws. I strongly suggest step one in the foreclosure process for you is to contact an attorney in your area and inquire into the foreclosure laws and requirements in your state. You can also easily Google your state’s foreclosure laws, and if you’re extra savvy, look up your State’s statutes , then just search within the statutes for “foreclosure”. This is important because each state has a different way of treating the foreclosure process, and more importantly, the rights of the owner whose home is going into foreclosure. Once you’ve learned your state’s foreclosure laws, you can move ahead with the process. I’m suggesting something entirely different, however, and it’s a growing aspect of investing in real estate foreclosures. It’s called investing in “pre-foreclosures”. This is better for many reasons. An important one is that, in some cases, when someone is foreclosed upon, they trash their place. They’re emotional about it. They’re pissed off at being kicked out. You name it, they feel it. So they take it out on the house. Additionally, before the foreclosure sale, you are not granted access into the home, so you have no idea what they did to it. You might buy what you think is a great property, only to find out that they plugged the toilet on the top floor then flushed it and let it flood the entire house. Or ripped out all of the copper plumbing and sold it. Or tore out the electrical. If you think about it, there’s an amazing amount of vandalizing someone could do to a home if unchecked. It’s sad, really.

Important reminder

I know personal there is tons of information on the market today. If I could give a word of cause learn your field. Never jump right in without the proper knowledge it could be a distaste. I found a ounce of prevention is better then a pure a cure. Take action but do your homework.

Conclusion

I’ve stumbled across a simple little formula that claims to build massive wealth through real estate foreclosures. It claim’s, if used properly, consistently and with a work ethic, to work well and quite quickly.
Can this be true? I’m skeptical but tempted as the testimonials seem for real.
I’m desperate to make it in foreclosures as I know of two guys who have, and who started off with nothing. I would therefore appreciate any experienced member appraising this site for me to see whether it would be worth going for. The link is: www.newfrontierinvestments.com I also want my readers to have a chance to speak to me live for a free 15 min coaching you can call 1-800-931-1393

Good luck to everyone!!!!!