If you’re looking for a place to get more information on real estate foreclosures, then you should take a look at “The Foreclosure Investor’s Cheat Sheet: 100 Useful Web Resources” over at International Listings. It provides 100 different links to articles, forums, websites, auctions, blogs, tutorials, and more.
It’s not often you get such a nice compiled list of resources all on one page so you might want to bookmark it and refer to it at a later time. Their site also provides international real estate for sale. Thanks to Brian for sending me the link.
As the real estate market continues to slow down foreclosures are already reaching an all-time high. This is only going to get worse in the next couple of years and it’s all because of the real estate boom in the previous three to five years.
Why is this happening?
It’s because home buyers were spending more money on new properties than they can afford and because loan brokers and mortgage companies were allowing them to overextend themselves. These brokers (in my opinion) were taking advantage of home buyers by giving them great deals on 3-5 year ARM loans or interest-only loans which allowed them to buy bigger houses they couldn’t really afford. Brokers of course get paid commissions from lenders they match you up with but that’s a different story. Continue reading The Next Real Estate Boom – Foreclosures