Foreclosure FAQ

On this page you will find the most common answers to our subscribers questions.
Please, send us a message if you don’t find the answer to your question,  we will make sure that we reply within two business day.

  Steps to use our Site  

How can I participate?
You can start to participate right now by signing up for a 7 days free trial click here! You can also sign up by clicking on the "Free Trial" link located at the top of each page of our site. The free trial allows you to search and view all of the properties in our foreclosure database.

Is it really free for 7 days?
Yes, the trial subscription is FREE for 7 days. If you decide not to receive the subscription simply cancel your account during the 7-Day Free Trial period and no charges will occur.
If you choose to continue after the 7-Day Free Trial your subscription will automatically renew. The subscription is billed directly to your credit card on a monthly basis, four weeks at a time at a cost of $ 39.95 per month. The renewals will continue to be billed to your account until you cancel your subscription.

What kinds of properties you provide in your list?
Our database contains foreclosure properties, REOs, and properties from HUD, VA, Fannie Mae, and other government agencies. We also include properties from a number of other corporate sellers.

What are the benefits of subscribing?
We are the only web site that provides foreclosure list 30 days before it goes to public record. Foreclosure Free Search offers a huge selection of foreclosure properties that you may be able to purchase at discount prices, and then flip for quick cash profits or keep for long term wealth build-up. Our online database includes properties from a variety of sources and represents the most current and comprehensive inventory of foreclosures available on the web. . We acquire all of our property data from foreclosing lenders and government agencies. This enormous database enables you to buy foreclosure properties directly from these sources and use them to pursue your real estate investment. We provide daily data updates, complete tax roll information.

Do you provide details on the property?
The property information includes address, size, number of bedrooms and baths, and property type. The tax roll includes sale prices, assessed value, and the age of the property. The seller/listing data includes the name and phone number of the agents you need to contact.

Do I have to sign up for a long term commitment?
We are different than other sites, you do not have to sign up for an annual or lifetime commitment. You can sign up for a weekly subscription that is billed monthly, as described above, we can work the way you like better!

Can I cancel any time?
You can cancel your subscription by clicking here or calling 1-888-596 9279. At the cancellation page, you will be instructed to submit your email address and access number to complete the cancellation process. Please be ware that we cannot accept cancellation requests by email or fax.

 

  Be informed  

What kind of foreclosure properties exist?
A foreclosure property exists in three primary stages: pre-foreclosure, real estate owned, auction property (REO). A pre-foreclosure occurs when the lender initiates foreclosure proceedings as the result of a default. If the borrower cannot cure the default by paying off the back payments (arrears) and does not sell the property, it is sold at a public auction. If no one buys the property at the auction, it reverts back to the lender and becomes a Real Estate Owned (REO) property. There is also a fourth stage, which can occur on properties with loans insured by a federal agency such as HUD or Fannie Mae or guaranteed by the Department of Veterans Affairs VA. When such properties revert back to the lenders, the agencies reimburse the lenders and take ownership of the properties. The agencies then make arrangements to sell the properties to the public.

What is a property in foreclosure?
Real estate foreclosures are properties that have been foreclosed on by lenders because the owners, who have taken out loans to buy the properties, have defaulted on the loan payments. Owners can default on loan payments for a variety of reasons including divorce, illness, death of a spouse, and unemployment. Lenders try to work out some kind of resolution with defaulted owners, but will generally initiate foreclosure procedures after three months of default. Foreclosure properties represent an exciting way to buy real estate because they can be purchased at discount prices, normally between 10% to 50% below market. These discount prices are possible because the property owners, which can be either the borrower, lender, or government agency (are motivated to sell them very quickly, often at below market prices. As a homebuyer, you can buy a foreclosure as a home with instant equity. As an investor, you can buy foreclosures as investment properties with built-in profit margins.

How people can make money buying a foreclosure?
People can make money in foreclosures because frequently they can buy the properties at below market value prices. Buying properties at discount prices is the surest and quickest way to make money in real estate. Individuals who are looking for homes can get a significant amount of equity up front with foreclosures. Of course, there are no guarantees, but investors looking for short-term income maybe able to flip foreclosure properties for big profits. And landlords maybe able to buy and rent foreclosures, with positive cash flow, for long term wealth accumulation.

How do lenders foreclose on property owners?
To read the foreclosure laws of all 50 states click here.
Lenders foreclose on property owners using primarily the judicial or non-judicial foreclosure procedure. States that use mortgages to document property ownership follow the judicial procedure. The judicial procedure requires lenders to file a court case to prove default before they can foreclose on the owners. States that use deeds of trust follow the non-judicial procedure, which does not require a court case. Non-judicial foreclosures can take up to about 30 days. Non-judicial foreclosures can take up to an additional 30 days because of the court action. In some states, the process can take up to a year depending on the circumstances.

 

  Information about Pre-foreclosures  

What is a pre-foreclosure means?
A pre-foreclosure is a property whose owner has defaulted on the loan payments and whose lender has initiated the foreclosure procedure. A pre-foreclosure property exists during the first stage of the foreclosure procedure, and therefore still belongs to the owner. The length of the pre-foreclosure period depends on type of foreclosure procedure used, can be judicial or non- judicial.

How do I find pre-foreclosures?
You are in the right place you always can find pre-foreclosure in our web we provide list of foreclosure property 30 days before it goes public

What should I do to buy pre-foreclosures?
Submit a written contract directly to the owners in order to buy a pre-foreclosure, since the property still belongs to the owners during this stage. You can initiate contact with the owners by mail, by phone, or by visiting them, depending on your personal preference. When you make contact, find out all you can about the physical and financial details of the property. For example, find out the age, size and type of house, condition, and other distinguishing features. Also find out the number of liens, type of liens, loan balances, and amount of arrears. Don’t forget to send a letter to the attorney on the case to inform him that he should stop the foreclosure: because you bought the house.

What the most important things I should know before buy?
There are two very important points to consider. The first is that all of the debt on a pre-foreclosure remains on the property until it is sold at auction. This means that any junior debt, including trusts, mortgages, tax liens, and judgments, which may exist on the property must be paid before you can buy the property. Usually, there is only one trust or mortgage on a property. However, it is important that you find out about possible junior debt before you spend too much time and money investigating the property. The second primary issue is that only the individuals who are on the title to the property can sell the property. All of the owners of the property must agree to sell it to you before a sale can occur. Make sure that you know who the owners are and that they are all interested in selling before you start negotiating a deal. Most homes are owned by individuals or couples, so finding them and negotiating with them should be straightforward. (look for title company to help you with the search on docs.)

How can I find a short sale?
Bank accepts a discounted or a lower payoff amount than the total amount owed on an existing mortgage this is classified as a short sale.
Investors are making huge profits buying pre-foreclosures with this method. For example, a homeowner facing foreclosure currently owes $92,000 on an $120,000 mortgage and he is also 3 months in arrears. The property is worth $150,000, you as an investor offer the bank $95,000 as the new payoff amount. The bank accepts your offer; allowing you to purchase the property for $95,000, and create $55,000 instantly equity to your pocket.

What about Risky?
It is possible to buy homes and make huge profits without much risk or money out of your pocket. You can complete a successful Short Sale in 30 days or less if you have the tools and the proper system to do it. Just call the numbers located on our listings to contact the sellers and start it from there!

Is it hard to buy a foreclosure?
NO. It takes some work, but not any more than it would if you were buying a regular home. In order to buy a property at a good price, you must be a serious buyer willing to go the extra mile to save as much money as possible. If the owner or bank does not accept your low offer the first time, re-offer it 20-30 days later. Remember, the longer they have the property, the greater and more realistic are your chances of saving up to 50% off market value.

How to flip deals for quick cash profits?
Before you can ever flip a deal, you need to sign an agreement to buy that property from the seller. You will be signing up and selling two types of deals. With cash deals, you will negotiate a discounted cash price, normally 60 percent to 70 percent of the “as is” value, in exchange for the seller getting all the cash at the closing.

There is any secret clause that allows me to flip the deal?
While any contract that doesn’t specifically say it is “nonassignable” is legally assignable, you should make sure your purchase contract specifically says it is assignable. Simply sign up the deal with your name, or better yet your company or LLC’s name, “or assigns” as the Buyer. You can do this easily by preprinting the “or assigns” into your purchase contract.

EX: Mr. Jones and Ms. Doe Homeowners, as Seller, and Home Buyers, LLC or assigns as Buyer, hereby agree that the Seller shall sell and the Buyer shall buy the following described property UPON THE TERMS AND CONDITIONS HEREINAFTER SET FORTH, which shall include the STANDARDS FOR REAL ESTATE TRANSACTIONS set forth within this agreement.

How can I find a Buyer for my deal?
There are three sources of potential buyers for your deal:
Retail buyers
Others investors
In- house “buyers’ list”

How should I write my own ad?

We can give to you three little known Power Ad Secrets.

Secret number one: Use an attention – grabbing headline on your ad.
The first three to seven words need to be headline that grabs the attention of your prospective buyer and locks their eyes onto your ad. Here are several possible attention grabbers to start your ad with if you want to find a buyer fast:

· Desperate Seller!!!!
· Foreclosure!!!!!
· Forced Sale !!!!!
· Stranded Seller Must Sell In 7 Days or Less!!!
· Personal Circumstances Force Fast Sale!!!!

Secret Number two: Use Attractive terms to sell your house fast

Read through the list of word that will attract a buyer’s attention:

· Take over payments on my loan!
· Nonbank financing!
· No bank qualifying!
· 100% owner financing!
· Rent to own!

Secret Number three: Use a low price to generate tons of calls. Your goal is to create an atmosphere of competition to bid up the price on the house. Be careful not to make an offer to pro-spective buyers that will force you to sell too cheaply.

*Foreclosure Pending. Need quick sale ! 3 Bed/2 Bath. Will discount 10-15% below market if you can close fast.
· Desperate, Must Sell! 3Bed/2 Bath House. Personal Circumstances Force Fast Sale
* Desperate Seller must sell in 14 days or lose house.