When times are tough and homes foreclose, one person’s tragedy can become another person’s opportunity for either a personal home, or, possibly an investment property. The trick is to find a reliable source listings that aren’t rehashed and out of date. There’s a new site that offers nationwide listings of Bank Owned Homes if you’re in the market. (In addition to the main site, you can of course visit their subdomains to see properties in the areas of interest to you such this one: Detroit Bank Owned Homes)
Bank Owned foreclosures may be a good source for finding personal properties (as opposed to investment properties) because in addition to the reduced price, banks may be motivated to to provide borrowers with good credit excellent terms on a mortgage for the property… a double bonus.
Check it out if that’s of interest to you. While an extra $8,000 tax credit is available, getting into a home this way might be easier than you think. This page looks like an excellent resource to help motivated buyers find very, very motivated sellers!
Note: Thanks to BankOwnedHomeShop.com for sponsoring this blog post and sending this information our way…
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