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An Insider’s Guide to Bank Foreclosures

I’ll let you into a secret. There is so much available right here at your fingertips. You will never have to pay for online education and tutorials again. Unless, that is, you really want to become a Guru and not just a successful investor in bank foreclosures! If you were like me when it was all new, and you wanted to learn as much online, for free, as you could, the first problem encountered was where to start.

Before you go anywhere on this tour you are going to need to brush up on some basics. Go to our Education section (leftside on Home page) and click on the links to foreclosure terms. If you already have an idea what bank foreclosures are, well you need to be certain. You’ll find much that is written all over the place that often uses bank foreclosures and REO as apparently interchangeable terms. Well strictly speaking they aren’t. Check your confusion out here.

Now you can have a look at what we have written about the foreclosure process itself. Know a little about the three stages, how a bank foreclosure property comes to exist, after all banks aren’t in the real estate business as well are they? See how useful those definitions were? You may have some questions that don’t seem to be covered by what you have read so far. Dive into the Foreclosure FAQ’s. If you’re still not clear and nothing covers your concern, just hold your horses a little. There is much to be read in the Learning Centre. You can narrow down your choice of topics now you know more about foreclosure homes and at which stage of the process a bank foreclosure arises. If you really want to round off your initial briefing, look up the Foreclosure laws for the state you live in and the one you want to buy in. I am willing to bet you will want to review the Terms and FAQ’s again.

And now you have read through the article on “How to buy Bank Foreclosures.” You got a little sidetracked, really got hooked on the possibilities, maybe a little greed factor crept in and you were tempted by the greater profits to be made earlier in the process, and started to think about how to buy foreclosures direct from the borrower in default. Have a good look at some of the challenges encountered by members of our Discussion Board. There is so much more general background you can absorb from the Blog (under the Education section again), Latest News articles and the short but useful snippets and hints on the State web pages. Just follow the links. Within a very short time you’ll be using the foreclosure listings with confidence, able to hold your own with the realtor of your choice, and ready to make that well priced offer to the Bank.

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