This video explains a bank’s role in the foreclosure process, how property owners arrive at the point of foreclosure and how to deal with banks when in a foreclosure situation. We also highlight the opportunities presented to investors through foreclosure deals, what information is needed and where to find it.
We begin by explaining the essence of a mortgage and how a mortgage holder can use foreclosure to “repossess” a property from a homeowner who is delinquent in payments. We then proceed to give various reasons of how a property owner can reach a point whereby institutions foreclose on them.
The video goes on to explain how banks provide numerous opportunities for the property owner to rectify their delinquent situation. We walk the listener through each step of a Notice to Accelerate, a Demand Letter, a Notice of Default and the final Notice of Sale which is issued by the court and is the last step before the property goes to auction.
We provide information on how to avoid foreclosure and we walk the listener through negotiation options to which the bank might agree. We also list reasons why banks want to avoid foreclosure.
Finally, we list reasons why foreclosed homes are lucrative options for investors, what they need to know in order to deal in foreclosures and where to find that information.
For more information about a Bank’s Role in the Foreclosure Process and other topics related to real estate visit http://www.foreclosuredeals.com