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(EMAILWIRE.COM, February 27, 2008 ) Detroit, MI--“Buying a foreclosure can be a lucrative investment,” states Jeff Kaller, real estate investor specializing in Pre-Foreclosures, “locating a foreclosure before anyone else or a property in pre-foreclosure stage allows you to be the only person negotiating with a motivated seller.”
The recent real estate boom inspired mortgage financers to increase the number of sub prime mortgages given to people who were considered a high risk. This action provided the fuel for the current mortgage meltdown.
As always, an opportunity presents itself. Buying a property in pre-foreclosure involves approaching the borrower or owner and offering to buy the property at a discount. One advantage of this system is the owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. This pre-foreclosure process also gives the buyer the time to research the title and condition of the property. Deals of this nature typically realize discounts of 20 to 40 percent below market value. In todayÂ’s heated sub prime market these numbers are very realistic.
With the foreclosure rate running at a record-setting pace it is understandable why many homeowners are willing to do anything or sign anything to keep from losing their homes. Clearly todayÂ’s market environment is attractive to the pre-foreclosure investor. According to the Mortgage Bankers Association, consumers with normally good credit are also defaulting on their mortgages. More than 5 percent of loans across the country are delinquent. It should be noted that delinquent loans do not include homes which are in foreclosure; however, they may be in the pre-foreclosure stage. Equally noteworthy, trillions of dollars in adjustable rate mortgages will reset by yearÂ’s end so homeowners who were able to make their mortgage payments are facing financial difficulty in continuing to do so with the higher interest rates.
If you are in the pre-foreclosure market, with some additional effort, you can find these homes and properties. Kaller advises, “As you become acquainted with these contacts, you can tell them the type of home you are looking for and the area. If you check regularly, you may obtain information on homes before they are added to public databases.”
Jeff Kaller offers free lessons and instructions for the amateur investor who wants to get in on the profit making and help distressed homeowners facing foreclosure. His free e-book is available at his website http://www.freeshortsalecourse.com/
Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mark Maupin
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
Mr. Pre-Foreclosure
Mark Maupin
248-939-6232
maupin.mark@gmail.com 
Source: EmailWire.com
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