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Examining the Good Neighbor Next Door Program

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Purchasing a home can be a daunting task, especially if you’re in a competitive area or a first-timer who isn’t aware of all the resources available to you. You’ve likely heard of traditional loans through the Federal Housing Administration (FHA) or VA loans available to veterans, but if you’re a teacher, law enforcement officer, firefighter, … Continued

Steps for Buying a Real-Estate Owned Property

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An REO (real estate owned) property is a foreclosure that did not sell at auction and ownership has transferred to the bank or lender. These types of properties are attractive for several reasons. In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s … Continued

3 Reasons to Consider Buying a Distressed Property

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Aside from increasing your housing options, considering distressed properties additional benefits as well. In areas where affordability is low and choices are limited, buyers – first timers or not – may be surprised at the advantages of considering distressed homes. Distressed homes that are for sale not because the owner wants to sell, but because … Continued

The Pros and Cons of Buying a Short Sale

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Many buyers see a home listed as a short sale and immediately cross it off the list. But if you educate yourself on the process of buying a short sale, you might be surprised to find out it’s not the nightmare-ish experience you may have heard about. A short sale is when a homeowner wants … Continued

Why You Should Consider Buying a Bank Owned Home

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If you’re considering distressed properties in your home search, chances are you’ve heard of several types including foreclosures, short sales, and bank-owned or real-estate owned (REO) homes. It’s possible to get a great deal on distressed properties, but REO properties, in particular, come with a unique set of benefits. Read on to see if this … Continued

Financing Options for HUD Homes

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Expanding your home search options to include HUD homes can open a world of possibilities, especially in areas where inventory is low and demand is high. A HUD home is when a government-insured loan from the Federal Housing Administration (FHA) gets foreclosed and the Department of Housing and Urban Development (HUD) pays the defaulted loan … Continued

5 Steps for Buying a Foreclosure

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Many people consider distressed housing as part of their home search options, especially in very competitive areas or those with lower housing inventories. If you’re thinking of expanding your search to include foreclosed homes, it’s possible to find a great value. That is if you know what to expect. Check out the five steps below … Continued

The Pros of Buying an REO Property

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Whether you’re looking for an investment property or a new place to call home, an REO property (real estate owned) may be the perfect option for you. Real Estate Owned properties are properties owned by a bank. These properties have gone through the foreclosure process, but no one successfully bid on them for purchase. There … Continued