The process of buying and selling REO's and short sales is not as obvious as it may seem. No matter which side of the purchase you're on, you need an experienced advocate to help you get the best deal.
In the current market, the multi billion-dollar Real Estate Owned (REO) industry is sizzling.
Novice investors are becoming experienced entrepreneurs virtually overnight. First-time homeowners are also cashing in.
Capitalizing on REO bargains can be a sure-fire way for you to build wealth in real estate, too.
Your Key to outstanding values
Whether you're entering the market as a first-time home buyer, moving up to your next home, seeking your first real estate investment property, or building your real estate investment portfolio, one thing is certain. Foreclosed properties are your keys to getting the best value available in the real estate market. Why pay full retail pricing when we can help you find foreclosed properties for up to 50% less?
REO properties of All Types and Sizes
Our exclusive foreclosure listings service will help you find exactly what you're looking for, including single family homes, duplexes, triplexes, Four Plexes, town homes, condos, apartments, and more. We'll help you find spectacular values on repossessed and foreclosed properties in every style, size, and location you can imagine.
REO's are properties that don't sell to bidders at foreclosure auctions and are taken back by lenders. Because lenders don't manage real estate, they will often try and sell their REO's quickly to interested home buyers or investors – sometimes 30-50 percent below market value!
WealthRoadrealty.com updates its data daily so that you can find these deals as they come on the market.
Why Wealth Road Realty ?
You may feel more confident doing foreclosure business with us, knowing the we are certified and approved with several well known leaders, lenders , Bank and Asset managers active in foreclosure industry.
From foreclosure to auction property to REO, you can find properties at every stage of the foreclosure process on our Web site. And, you can do it from the comfort of your own home 24/7.
The process of buying and selling homes is not as obvious as it may seem. No matter which side of the purchase you're on, you need an experienced advocate to help you get the best deal.
Getting a Mortgage Approval for a Foreclosure Property
Before you buy a bank foreclosure, you’ll need to qualify for a mortgage. Mortgage companies use ratios to analyze your mortgage payment. Mortgage companies will calculate your ratio of monthly income to your proposed monthly payment. Lenders will typically deem you a foreclosed house worth about three times your total gross annual income.If you want to buy foreclosures, on line mortgage affordability calculators will give you an idea of how much of a mortgage you'll be able to procure. To establish the price range you can afford, you’ll have to enter information such as your monthly debt, cash down payment, and your annual income. If you work with a lender before you decide on a foreclosure home for sale, you can figure out if qualify for a mortgage large enough to finance the foreclosed home you want.Mortgage companies will also want to consider your credit score and the stability of your employment history. Other factors they will consider are the value of significant pieces of personal property such as your car, and your current bank and car loan account balances. Lenders will use these numbers to determine whether you can purchase a foreclosed home.
Should You Buy One or Should You Wait?
With conflicting data as to whether or not the real estate market has bottomed out, potential foreclosed property buyers are wondering, “Is the worst over?” The answer to that question depends on who you ask and where you ask it. Some parts of the country are showing signs of recovery, while others have yet to turn the corner.Four of the Sunbelt states that were hit hardest by the sub-prime mortgage fallout -California, Arizona, Nevada and Florida — have recently stabilized, though foreclosure and bankruptcy rates have held steady. Some economists are now describing our current situation as a recovery, though it has been a markedly slow and weak one.While number of foreclosed homes for sale has peaked some states, it is still rising in others. With the country still teetering between recession and recovery, foreclosed houses still abound. In the states where foreclosures have leveled out, they have done so at high levels. If in fact the market has already bottomed out, it has yet to fully recover.