27 July 08 - 00:44Foreclosure Investing: 4 Common Questions

One of the most profitable ways to invest in real estate is foreclosure investing. Here are the answers to four common foreclosure investing questions.

What is preforeclosure?
When a homeowner is in default on his mortgage, the bank begins the foreclosure process to try to recap as much of its money as possible. The end of the process is the foreclosure auction. The preforeclosure period is the period of time from the notice of default to the minute before the foreclosure auction. The preforeclosure period is your foreclosure investing window of opportunity. You can approach the homeowner directly, make an offer, and often buy the property at a price that is well below market value.

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