Top 4 Reasons to Buy a Foreclosure or REO Home Now

1. Value – Real Estate Owned (REO) homes are usually priced lower than the original loan amount, because they exclude expenses such as attorney fees and interest. Also, lenders generally remove all second and third liens on the property, delinquent taxes, HOA fees, mechanics’ liens, etc. Since banks and other lenders are not in the business of maintaining homes, they are eager to sell REO homes and are more willing to negotiate on the price. For these reasons, you can find some great deals on REO properties, especially in today’s real estate market.

2. New Government Rules – Finally, the government has changed some rules to favor investors. The Department of Housing and Urban Development (HUD) announced last month that they will temporarily broaden rules regarding FHA home loans to allow for quick resale of foreclosed homes. With this suspension of the “FHA 90-Day Flip Rule,” the green light is on for big investor profits through quick flips.

This rule change will single-handedly accelerate the recovery from the deepest real estate depression of our lifetimes. Effective immediately, the wealth of this decade will be created by investing in distressed, REO properties over the next 18 months.

3. Supply – The number of foreclosures filed in the United States in January 2010 increased by 15 percent from January 2009. For 11 months in a row, foreclosure filings have surpassed 300,000, according to RealtyTrac. The way things are going, REO homes for sale could reach 3 million by the end of this year. With so many homes expected to go into foreclosure, combined with the already record-breaking number of bank-owned properties for sale, will make for a huge surplus in REO homes on the market. And basic economics tell us that when supplies soar, prices usually plummet, so right now is the time to invest.

4. Transparency – With GoHoming’s new proprietary Time Limit Bidding, home buyers can place all bids for REO homes online and even see what other people are bidding for the same properties. Home buyers can also see all fees associated with the transaction. This way, they can feel confident that they’re getting the best market price on an REO home.

So how do you go about filling your bank account with spectacular REO profits? Alexis McGee has developed a 7-Step Process to Buying Wholesale Foreclosures over her 25 plus years in real estate. Tomorrow night, Wednesday, February 24th at 9 p.m. Eastern Time, she will cover the skills you need to reach your goals.

During this Free Live Webinar you will learn: http://blog.foreclosures.com/

• What you can do now to take advantage of the current foreclosure frenzy.
• How other students are profiting wildly right now, without using their own money or credit.
• The skills you’ll need to change your future in 2010.

If you’re willing to work hard to find wholesale foreclosure deals, Alexis will point you in the right direction, and help you every step of the way.