FAQs - Investor FAQs - What is a foreclosure lead?
What is FORECLOSURE?
Foreclosure is the legal process by which a lender attempts to recover the outstanding balance owed on a property, either by repossessing it or by selling it outright, once the owner/borrower has fallen behind in repayment.
There are primarily four outcomes once the foreclosure process starts:
- During the grace period allowed by specific state law (this is known as "preforeclosure") the owner/borrower is able to re-establish and repay any back payments, and fully reinstate their loan.
- A third party buys the property outright from the owner/borrower, allowing the owner/borrower to pay off the outstanding loan balance and preventing a foreclosure from appearing on their credit history.
- The property is sold at public auction at the end of the preforeclosure period.
- The property is repossessed by the lender through an agreement reached with the owner/borrower, or via public auction.
Why do I want FORECLOSURE LEADS?
The foreclosure process offers three unparalleled opportunities for investment at bargain prices. They are numbers 2, 3, and 4, listed above, and can usually offer the investor discounts of 10-50% below market value.
How do I find quality FORECLOSURE LEADS?
The axiom "Time is Money" is RELIGION when it comes to acquiring foreclosure properties. To maximize your investment opportunities and efficiency, you need to secure an expert in the field. If you owned a professional baseball team, how would you find your opportunities, i.e., your talent? You would surround yourself with the best possible scouts who knew all the details about exactly what you need. It is no different with real estate. Don't be out scouted by the other team. Let the incomparable experience of www.wehavehomeleads.com go to bat for you. They are the experts you can count on.