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The home loan India
By Aditya Jaiswal
Banks have been cashing in on the virtual property grab which is the new paradigm about the novae riche aspirations.The new real estate scenario is fueled by the home loans in India. Read more...

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Reviewing Weider Home Gyms
By Rolf Rasmusson
Weider Home GymFor most of us non-professional body builders the Weider Home Gyms can be a great addition to our exercising needs. Driving times, busy and active schedules makes this Read more...
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Six Reasons Why Most Home Based Businesses Fail
By Trent Brownrigg
Every day thousands of people are looking to get out of the "rat race" to work at home. Most of those people want to get started on a home based business so badly that they do not always make wise Read more...
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Medical Billing - Legitimate Work at Home Opportunity?
By Thomas Childs
While there are many legitimate work at home Internet business possibilities and many reputable and honest work at home Internet business vendors, there are also some fraudulent schemes. You must Read more...

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Rising Home Foreclosures Spell Opportunity For Savvy Home Investors
By Joe Hanoa
With sharply higher mortgage rates comes an increase in foreclosures as homeowners find that they simply cannot afford the higher mortgage payments. Worse for them, no mortgage company will allow them to refinance if their credit standing is precarious. Thus, the number of foreclosures is rising across many housing sectors spelling opportunity for savvy investors. Are you ready to jump in? If so, it isn’t always thing to do, but it can be done as outlined below.

Chances are if a homeowner is faced with a foreclosure, he may be receptive to you offering to buy his to “rescue” him from what will inevitably be a credit killing experience. If you play it right, you could offer to take over payments or simply buy the at a price that covers what is owed on the mortgage. In effect, the owner loses his down payment and equity in the home, but he gets to keep his all important credit rating and he will have the opportunity to purchase a again once his finances straighten out.

On the other hand, if a homeowner is seriously behind on payments and the home’s value has not

kept up, his mortgage lender could squash any deal that you make. The mortgage company could end up losing tens of thousands of dollars on the sale, especially if your offer doesn’t pay off the outstanding mortgage. Yes, the homeowner is responsible for the loan deficiency but if he doesn’t have the money now, what is the likelihood he will have the fund later? In that case, the mortgage company may authorize that the courts proceed with a foreclosure to remedy the situation.

A compromise plan could have you still buying the if your offer effectively is almost enough money to cover the outstanding mortgage. If it falls let’s say five thousand dollars short, the mortgage company could be interested in entertaining your offer. Why is that? For several reasons including:

--Foreclosure proceedings are expensive. The mortgage company must hire a lawyer and pay filing fees. In addition, thousands of dollars in late payments could be lost forever. Your deal would recover some of that money.

--Property management is a pain. If the is recovered via foreclosure, the mortgage company must still maintain it until it is sold. Taxes, maintenance, repairs can add thousands more to the cost of the home.

Also, if the local housing market truly stinks then your offer may be the only one that a mortgage company could expect. Therefore, understand the market and set your offer at a price to make the most of your benefit.
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