Great Buys In FHA Foreclosures by toriola1

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Great Buys In FHA Foreclosures By Otto

FHA foreclosures have been steadily rising in the last three years and the number of new homes getting on the selling block keeps coming by the day. A dominant market is taking a new form today and that is FHA foreclosures. Real estate market forces have pushed the price tags of homes down nationwide but the number of FHA foreclosures has continued a sustained increase in rate up to this point. Market analysts are even predicting a new wave of foreclosures. This time, it will hit the prime mortgage sector. At face value, this means more homes priced cheaper will be available for potential homeowners as mortgage lenders are pressed to dispose of FHA foreclosures to ease their liquidity problems. The prospects seem to be attractive for those with sufficient equity. Words of Caution on FHA Foreclosures Buyers of FHA foreclosures should be wary with their buying of homes from the FHA foreclosure listing. As would be expected, most of the foreclosure homes for sale are results of default of sub-prime mortgage loans. In this case, a lot of these real estate properties have not sufficiently built on its equity from payment of mortgage from the original homeowners. You might end up with a home with a price tag that is almost equal to its actual value or at best with only 10% off from the original cost. Buyers of FHA foreclosures are forewarned of these types of foreclosure homes for sale which investment experts term as “land mines.” Buyers of FHA foreclosures are strongly advised to do a thorough title search. Study the structure of mortgage on the foreclosure homes for sale. In some instances, there might be a second mortgage on top of the principal mortgage. These types of FHA foreclosures are not the “best buys” we are looking for. Another aspect to consider when buying foreclosure homes for sale is that the real estate properties are being sold “as is.” It is then imperative on your part to factor in at least an additional 25% on the price tag of the property you are buying. This amount should cover all the unforeseen costs involving
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Presented by Daniel Toriola
repairs and defects on the home which may not be apparent on initial inspection. You don’t want to end up spending the 30% savings you thought you got from buying FHA foreclosures for repairs and defects you only discover after you move in to your new home. Another practical tip for would-be buyers is to avoid foreclosure homes for sale that were already on the listing for quite a while already. On inspection you would most likely find out that these homes have significantly deteriorated as most mortgage lenders are hard pressed to maintain an even increasing number of foreclosed properties. A final reminder to buyers of foreclosed homes; most of the FHA foreclosures were originally owned by people who would have surely gone into serious financial troubles. With this situation in mind, expect these former owners of not being able to have done some decent maintenance and care of the now foreclosed property. Expect to face some serious house repair of practically all aspects of the entire property. Don’t be surprised to find some punched holes in doors and wall panels courtesy of the former owners of the home. Once these are sufficiently covered by the would-be buyer, then it is safe to move on to the next phase, and that is to commence the buying of FHA foreclosures. Discover more about Otto's techniques and claim your FREE video webinar right now by visiting: http://www.RealEstateBusinessWealth.com You'll uncover Otto Ruebsamen simple yet extremely powerful techniques to enjoying passive income even in a tough real estate market.

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Advantages Of Refinancing Your FHA Home Mortgage Loan By L. Sampson

When interest rates fall, it is a good time refinance your house. You can even refinance if you want to do some debt consolidation. Taking advantage of the programs offered by the government, in the form of FHA home mortgage loan refinances, can be a great way to have a streamlined process, and to save some money. And if you already have an FHA loan, it is easier than ever for you to refinance it. Here are some of the advantages of refinancing your FHA home mortgage loan: · Programs that reduce your interest rate at no cost · Options that allow refinancing your FHA home mortgage loan at no cost · The credit qualifications and the income qualifications are more lenient than other lender qualifications. · It is not difficult to switch from an ARM to a fixed rate loan. · There is no hassle in lengthening or shortening the term of your loan. · Refinancing your FHA home mortgage loan can allow you to consolidate first and second mortgages.

· You can also take advantage of “cash out refinance” options to consolidate your bills. · The closing costs are regulated by the FHA, and are often lower than the costs associated with other lenders. · Even if you have had a bankruptcy or foreclosure, you can still take advantage of refinancing your FHA home mortgage loan. However, you do have to wait at least two years for a bankruptcy and three years for a foreclosure. · You can get financing for up to 97% of your home’s value One of the great things about an FHA refinance loan is that some of these features are available even to those who do not already have an FHA loan. Even though if you are refinancing your FHA home mortgage loan you will have a more streamlined process, you do not have to actually have an FHA home loan to take advantage of the refinance. You may have a little more difficult time, but you can still refinance with an FHA home loan. Visit http://www.refinancesmarts.com for more information about VA and FHA Home Mortgage Refinancing.

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Related eBooks: Advantages Of Refinancing Your FHA Home Mortgage Loan Why FHA- with your Credit Score FHA Home Loans are The Easiest To Get! FHA Foreclosures – Why They Are More Numerous Than Other Foreclosures What is FHA and What Are FHA Mortgages? Get more Free PDF eBooks at FreePDFeBooks.com Related Products: Fixer-Upper Fortunes The Gurubuster Doubler Instant Split Commissions Profit Pulling Reports Your Own Internet TV Station

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