Wednesday, November 3, 2010

read all about foreclosure moratoriums.

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November 2010  
Top Story of the Month
Banks are freezing foreclosures
Is it safe to buy a foreclosure right now?
Lately, there's been a lot of discussion about whether it's still safe to buy a foreclosure. Buyers shouldn't hesitate to purchase short sales or bank- owned properties (REO). Here's a short video from Rick Sharga, senior vice president at RealtyTrac, explaining why foreclosure buyers shouldn't be concerned when purchasing.
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Here are some recent questions posted on the RealtyTrac Community. Respond by clicking the links below, or ask your own question.
> How will the foreclosure moratoriums affect short sales?
> I am interested in buying a pre-foreclosure. How do I know when it will be auctioned?
> On average, what is the timeline from seriously delinquent status to repossession?
> Where do I gather inventory information for Arizona?
> Can anyone who has bought an REO from a lender share their experience with me?
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Will Foreclosure 'Robo-Signers' Stall the Housing Recovery?
By Peter G. Miller

The freeze is on. A number of major lenders have halted foreclosures in almost two dozen states because thousands of sworn affidavits were signed by lender representatives - without checking actual claims, a process widely described as robo-signing. Read the entire article
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