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Here's How to Organize Your Home and Feel Better at The Same Time
By Patricia Wagner
Did you know that a clean orderly home can give you an enhanced sense of well-being? Living in a disorganized mess can make you feel disorganized too. Your home is meant to be a haven from the Read more...

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Work From Home with Predator Marketing System
By Matt Ellsworth
FOR IMMEDIATE RELEASE10/2/2006Work From Home with Predator Marketing System Predator Marketing System launched in early September 2006 and has been taking on Read more...
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Work at Home for Maximum Personal Growth
By Merrit Strunk
Human beings are not just another form of animals but they are complex physiological and psychological creatures have not only a body but a mind and spirit as well. Although science and medicine may Read more...
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Homeowners Insurance Coverage: Are You Really Protected?
By Joe Hanoa
Most homeowners think, or hope, that they have enough coverage on their homes to take care of just about any sort of contingency. However, waiting until a disaster strikes – like Hurricane Katrina – Read more...

the country or state or city where you live; "Canadian tariffs enabled United States lumber companies to raise prices at home"; "his home is New Jersey"
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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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