If You’re Buying A Foreclosure, You Need To Know This
Lately I have had people coming into Arbor Pass asking me about foreclosed or short sale homes. After buying the foreclosed home, the initial residents still have 120 days to redeem back their homes, so till then the house is still not secured that it is yours permanently. I promised you I would post some pictures of Waterfront Luxury Foreclosed Homes here in the area in which I conduct business, League City, Texas. In the case of foreclosure, the mortgage company retains all rights to proceeds from a sale or auction. Foreclosed properties actually provide other people with better property options.
Instead of a for sale sign in the front they will have a note taped to the door or window stating it has been seized by the bank or foreclosed. Foreclosed homes can vary from a regular home purchase, and you will want to research all loan products available …