FORECLOSURES FOR SALE AN OPPORTUNITY FOR EVERYONE
If you haven't begun looking into foreclosures for sale, then there is just one thing I need to ask you...why not? It is an excellent time to pick up a new home, for instance my parents just looked into Texas Foreclosures, and found a house that they could buy for $10,000. This home would normally sell for about $150,000. It really had a horrible paint job, but everything else in the home was absolutely perfect. They decided that they would buy this house for their retirement in a few years and they said that when they sell off their old home, they will make a substantial profit and be able to retire on the money that they have saved plus the money from the sale of their house. They were going to get another home anyway, but decided not even to mess around with getting a mortgage from Freddie Mac for this house, because it was so cheap that they were able to pay cash for it. They said that through HUD.gov they were able to access information about foreclosures by state and since they bought their house in TX they have continued looking for any houses that they can find that have a really low price on them. They said they know that they won't be able to turn a profit on them right away, but they are considering renting them out and then giving a house to me and one to my sister when we are ready to settle down.
I just think it is incredible. After all, my parents don't have much money. I mean not that they are poor, but they are not rolling around in money either. One thing that is clear, is that in this market, just about anyone can afford to buy a home and can get a really good deal on one if they just shop around a little. Overall, there have been very few problems with the purchasing of foreclosures and most people not only seem happy, but feel that they got their money's worth and more.