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Foreclosures
Author: Chuck Marunde13 Aug
A search on the Internet for the word “foreclosure” in Google gives you 24,100,000 hits. Eghad! Having done many foreclosures as a real estate attorney going back to 1986, I can tell you very few people make money in foreclosures. Most of the money is made in selling services, seminars, and books on how to make money in the foreclosure market. I can count on one hand the clients I’ve had who actually made money in foreclosures. Can you make money with a foreclosure? Absolutely. But they are far and few between. This is a reality check for some. For others, I’m sure this is no surprise at all. If you want to know exactly how the deed of trust foreclosure process works in Washington, go to http://freerealestatelaw.com/Foreclosures.html.
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One Response for "Foreclosures"
I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 7 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low… in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.
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