Even with all the publicity on repos I still think they are a little high in most cases. The smokin deals are getting gobbled up some where. I'm just trying to find the early 90's style Rip the plumbing out smash all the glass and bust holes in the drywall repos. dead grass is not enough for me. I want it trashed.
6-12 more months.
Trustee's will be 100% cash on the spot.
I'm aware of buying the second and having to pop for the first, but if the first goes to auction don't the Jr. loans get washed?
Correct, sans any government liens.
I read an interesting spin on Bush's bailout and forgiving the earned income tax credit on short sales/foreclosures - that it was done that way to accelerate the bottoming out on prices, to "hit bottom" quicker.
I've found the best deals (for buyers) to be the REO's. I can get a buyer into a home in Serrano Heights in Orange for High 6's where that same home was going for low 8's just 1 year ago. The lenders know they have more coming down the pipe line.
Posting Permissions
Reply With Quote