What You Need To Know About Buying A Foreclosure

A procedure by which the holder of a mortgage—an interest in land providing security for the performance of a duty or the payment of a debt—sells the property upon the failure of the debtor to pay the mortgage debt and, thereby, terminates his or her rights in the property. Out of the three advertisements listed on your website, we are pleased to inform you that we have received good response from the public and we have received numerous calls regarding the auction and details of the properties. The land title search will disclose any foreclosure actions being sought in court. Participating servicers will be eligible for an incentive of $500 and can make reimbursable payments up to $1000 to extinguish other liens, Borrowers are eligible for a payment of $1500 in relocation expenses in order to effectuate short sales and deeds-in-lieu of foreclosure.

However, you may still be able to …