The Truth About The Foreclosure Market

Unfortunately, along with the increase in foreclosures over the last several years, there has also been a corresponding increase in foreclosure scams. Many businesses have taken profits by taking advantage of unsuspecting home buyers looking to capitalize on the housing crisis, and purchase a first home or vacation home. The sad reality is that many people have fallen victim to these scams because they simply did not understand some basic facts. The facts are that home buyers should first engage a Realtor to find foreclosures. The first and most prevalent scam tactic, and a definite red flag for home buyers, is that a fee is required up-front. The fact is that many companies advertise on the web and other media offering foreclosure lists for a fee. The truth is that Realtors see foreclosures first in the MLS. Asset managers and some banks list REO properties (bank-owned, also known as post-foreclosure) directly with Realtors. Those listings then appear in the MLS and become for sale properties.
  • April 20 2012 - Naples
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (4)

Good post. 
Absolutely accurate!

Eve
  • April 20 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Dunes ..
The Truth is always good

Here are some Free Lists

Public Records..Including Foreclosure/Tax Lien/Tax Sale Info
All Free & all the Info direct from your State/County/local gov.
Foreclosures and Tax Lien Sales resources in Florida

REO-Bank Owned Properties
Many Banks have created Sites for the Public to use (For Free) to view and find Information about the Properties they have Listed for Sale
Sites Like..Bank of America...Wells Fargo

You can find links to Bank sites here...Link

The Fed Gov has Sites for its Properties for sale
HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

The Truth is good..kudos to ya
  • April 20 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for NY Broker
100%, there are so manny scammers out there be careful and get Realtor to help you.
  • April 20 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Today's market is full of opportunities that do not have to be filled with the frustration that short sales and foreclosures often are fraught. With the help of a good Realtor, a home buyer can be exposed to many options that they would not know about or find on their own.
  • June 16 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.