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About this episode

firstamericantv.com Buying a foreclosed property can be cheaper than buying new property. Foreclosed property is property that is now up for sale because the previous owner was not able to continue to make mortgage payments on the property. Other reasons homes get foreclosed include IES tax seizures, property abandonment, and real estate tax nonpayment. So how can you find a foreclosed property? Do your homework. Check out all the resources and places for details on property foreclosures. You can search classified newspaper and magazine advertisements, the Federal Housing Administration, and the Department of Housing and Urban Development. All will be able to tell you about recently foreclosed properties in your state or hometown. The next step is to investigate foreclosure proceedings in your state. Contact your state or local governmental offices for information on the steps needed to take for purchasing foreclosed property. Use the directory of official state, county, and city government websites for contacts: State and Local Government on the Net. Make sure you Closely INSPECT the property in which you are interested. Keep in mind that most foreclosed property is sold as is, so there can be...

• Release Date

  Jun 20, 2008

• Runtime

  01:56