Do you feel bad for the family that gets foreclosed upon by the bank because they didn’t make their payments timely? Aw, maybe.
Do you feel bad for the bank who now owns an asset worth substantially less than the liability originally lent? Perhaps.
Either way, that is the market at work, and their loss can be your gain! Foreclosed properties are an excellent opportunity for you to pick up a home or income building for pennies on the dollar. Yes, purchasing a REO (real estate owned, or bank-owned property) is a cumbersome and slow and annoying process, but it is often worth the wait for the patient investor.
Contact me for information on foreclosures and short sales in Southern New Hampshire, and let’s get you into a great investment! Email mark@porcupinerealtor.com for details, along with lender information.
Awesome home on the water!
Tags: auction, bank owned, foreclosure, property, reo, short sale