Anyone know about short sales or buying foreclosures?

  • GoodPup

    Posts: 752

    Feb 01, 2009 3:33 AM GMT
    I have seen on Craigslist and lots of houses in my area selling for dirt cheap! Homes that 4 years ago were 400,000 now under 100,000 as a bank owned property. And on Craigslist I see homes that you can take over the payments for only 750-950 a month.

    Does anyone know much about that stuff? Like... if that is really the monthly cost I could actually buy a house. But.... is there more to it that someone inexperienced wouldn't know about?
  • Posted by a hidden member.
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    Feb 01, 2009 3:49 AM GMT
    Those take-over-payment ads and rent-to-own ads are scams. Stay away. As for buying foreclosures, here's an interesting story from the LA Times..

    http://articles.latimes.com/2008/nov/09/business/fi-cover9