FORECLOSURE LISTING SERVICES SPRING UP — BUT DO THEY TELL THE INVESTOR ABOUT THE TRUE STATE OF TITLE?

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Foreclosure Listings: Free Foreclosure Listing Services Available To Investors

By vanko on November 17, 2011

Real estate foreclosures are a hot topic today; investors are excited about possible opportunities to make even more money in the real estate market. Finding listings are much easier to find with the number of companies that offer free foreclosure listings in cities across the United States. While most of them are for a trial period, you can usually get a subscription that will allow you more flexibility in your quest to find foreclosure listings.

The foreclosure market is growing at an unprecedented pace, and it does not seem that it will be slowing anytime soon. The demand for online listings has been the reason that so many new companies are showing up online to offer foreclosure listings. These types of online databases are expensive to maintain and keep the information as accurate as possible, so most charge a subscription fee, however the major companies, have a free trail period in which you can take a look what they have to offer and see if it is worth the money.

While the internet is making it more accessible to locate foreclosed properties, many companies offer listings of the latest foreclosures on the market, you can search them by zip, city, state and a wide range of other options. Do not settle on the first company that offers the listings, they are not all created equal.

Some of these companies get the information “dumped” to them from various agencies, others have people that transcribe this information manually from the actual documents filed at the courthouse and some of them buy the information from other companies that provide the same information. So be sure to investigate and use the trail periods as a testing session.

Once you have tested a couple of the website and the information that they offer, you will be ready to make a decision on which one provides the best and most accurate information available. Since you may find that different sites offer different information, you may need to use more then one in order to compile the information that you should research when looking for potential properties that offer the most profitability.

If you are new to investing, or even an experienced investor and looking for a way to search the millions of listings quickly and efficiently to find the foreclosures that are profitable. Take advantage of this opportunity to search the listings and become a real estate mogul.

Thomas Bladecki is the author and can provide additional information about foreclosures and the current real estate markets visit Home Foreclosure Help.

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11 Responses

  1. More confusion. More mess. And they, “the Shadow Banking System from the previous article, want to create an illusion. A distraction, from catching on and catching up to THEM. IDENTIFY THEM, in name and print.
    Their greatest fear, biblically and according to the word, May it catch them up. And may they Reap in abundance what pain and anguish they have sown in abundance: caused us and multitudes for their GREED and PROFIT, may it all backfire at large.

  2. OK sooo we have an avenue for bottom-feeders to go for a great flip opportunity. Lets think about some risks. I just attended my long-delayed last minute CLE on real estate transactions.

    The presenter, a long-time R/E lawyer, walked through the nuts and bolts of realtor disclosures etc—then reached the point of investors buying distressed properties that had been foreclosed. He briefly mumbled something about lingering problems associated with robo-signing and conveniently his time ran out and he raed from the room before the mixed group of realtors and attys could raise questions posed by his end of times curt remark.

    Well–what might those problems be?

    Up front lets just state –this discussion is of necessity extraordinarily general–every state and every fact pattern is different—the bottom line for the investor is the old maxim “caveat emptor” ie “let the buyer beware”. In other words know what you are doing and that most likely means better have a really well-versed attorney.

    1st thing before getting to the issues of maybe the former homeowner is eligible to evict you or your buyer—-the basics that iv seen–unrelated to mortgage issues.

    The folks that have ready cash go to a sheriff auction and may be able to bid in for 2/3 market. However “market” is not reflective of the real price-more the county auditors wish that the mrket had not dropped. So in one instance I recently saw–the 2/3 price was well in excess of true market–especially after the property OTHER PROBLEMS get solved.

    The other problems—-the flipper buys the property atr auction so the discaimers and disclosures as to problems with the property–septic system doesnt work—-wiring deficient—-mold in walls—that stuff not disclosed. The flipper if not a realtor does not have to tell you about these warts.

    You as a one-time buyer that must use a realtor to resell–must provide the disclosure—–and you will know how bad it is –because you must do basic due diligence and at least enter the house. Too bad for you

  3. Another Addendum: (For Esther) Title issues, I would think play a significant role in weighing out different options. I’m no expert, but I think we’ll see a lot of problems with Titles on properties in the future. People who buy Homes may not necessarily “own” them. Certainly more fun and games soon.

  4. For Esther; I don’t know. I also am not sure how to find the posts relevant to “this” situation. I DO have a Legal Assistant who is keeping His eyes open to all of the new events, and will notify Me if and when He sees a way to go about “it”. (Thanks for your response)

  5. Is it possible to get it back, anyway? Like the home in CA, there is a story on this site. There are also other stories I’ve read.

  6. Addendum to my last post. The humble abode I owned in Az. which I paid (regrettably) $156,000 with $30,000 down ended up being “Sold” for $36,100!!! Wouldn’t it have been a little more Civil to reduce the principal so my Wife wouldn’t have had to move out? (Not to mention the other $40,000 that I had paid over the last 4 years. To me, this is beyond words.

  7. I’ve never remembered to mention my feeling that perhaps “The Powers That Be” are taking away the right to own land or property. Even so; the least we can say (Can’t come up with the right word- surmise?) is that the middle class is being sold out to the welathiest members of our society. Actually, I think some of “THEM” are leary as to getting involved in this mess.

  8. Interesting question you ask, I ask that in the back of my mind all the time, while people go on thinking they are getting a deal of some kind. Inidividuals don’t even question, nothing raises up in minds as to what’s wrong with this picture? I guess if the greater part of this country’s people chose to remain ignorant, some stick their heads in the ground, like nothing is happening, or everything will magically go away. Reality will be like caberet in France, by the time those in that little section came to the reality that HItlers take over and annihilation of the Jewish People was real, and that they too would lose, it was too late, and there was no recourse, the open window of time was NOW closed.

  9. I don’t understand why would anyone purchase a foreclosure home just because it’s cheap. If the title is defective, and the home is unsellable, then why would anyone invest? That would only benefits the very criminals who committed the crime to begin with. Everyone wants to get the economy moving as if nothing had happened, and sweep the dirt under the rug. I want to see the economy move as well, but I also want the housing issue be resolved!

    If the homeowner of the foreclosed property still holds the signature on the title, then they should be dealing with the investor, not the banks who supposedly owen the property through faulty documentations. How is anyone going to distinguish between the specific homeowner who wants nothing to do with the property and who’s home was taken away from him/her against their will with false claim?

    the banks need to sit on these homes for as long as the crisis exist, they started it and they need to fix it! They created this monster, and now their bed is made, what else can anyone say that would made better sense. I would not want to buy a foreclosed home, with all the negative vibe that it holds. No matter how much cleaning or remodeling is done, millions of people were effected in the most horrific way, they were forced out by eviction with their families on the streets, HELLO! It cannot all be about the mighty Dollar, that’s what brought us here in the first place!!!

  10. My response to this. Been watching these banks for quite some time. Don’t believe everything you hear. These banks do not want cooperation. They want what benefits them, $. Taking someones house is not a biggy to them. They are not sorry for how they accomplish that, only that they do not get caught in their underhandedness.

  11. The answer to the question of title: NO Again the banks do not care. They have been paid multiple times. The people who think they are getting a deal, oh no. They are getting a “tainted title” and in the future have a possibility of packing-up, moving and lose all the money invested in the properties. The criminal behavior is still in tact. Disclosure is key for sellers/homeowners, but not for banks.

    I was thinking this morning and wondered what someone else’s take would be on this: After working in insurance for many years it occurs to me, one must have an “insurable interest” in life, property, etc…when the banks/servicers “insure” a possible/probable default on a mortgage (unknown to purchaser) how can they collect and keep the proceeds, when the mortgage goes belly-up? This is an area no one is talking about. Is the servicer “contractually-legally” entitled to the default money? I say no and take it a step further by saying the courts also need to look at this. Without an “insurable” interest one should not even be able to insure a loss. Any thoughts?

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