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Old 07-14-2007, 01:24 PM  
latinasojourn
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Join Date: Oct 2003
Posts: 3,191
if you are seriously interested in foreclosure properties you should not use "free" listing services, it is too late.

you need to join a subscription service in your geographic area of interest that lists the initial "notices of default" from lender to owner.

then you contact the property owner BEFORE the property is actually foreclosed and make a favorable deal either by assumption or wraparound, or cash if mortgage balance is small (it usually is not small in proportion to total value).

once the lender takes back a property it is usually just relisted with a local realtor and put back on the market at retail price.
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