The Different Sources of Pre-foreclosure Listings
A pre-foreclosure refers to a home where the owner of the home has defaulted on paying their mortgage. When default in payment of mortgage or cause three consecutive times this is when this process occurs. When this happens, the lender begins a process of reprocessing the property following the stages put in place by the law. The first step in the process of pre-foreclosure is the putting up over default notice by the lender which is to inform the owner of the property that the lender will begin following legal action if the mortgage is not paid. Because they will be able to purchase the property at a very cheap price and resell them at higher prices, many investors are usually on the lookout to find pre-foreclosure listings. There are a number of sources of pre-foreclosure listings.
Local newspapers at the first source of … Read more