Message #8 From:
Jason Date: April 23, 2009 02:45:34 PM
Foreclocure Is The Way
We are buying a foreclosed home and I hope you think no less of us. Someone will buy the home after all! Actually, the home is in what is called a short sale. A short sale occurs when the home owner owes more on a home than it is worth or can't afford the payments. In the case of a short sale the existing home owner attempts to work with the bank to sell the home. In many cases these types of cheap homes are the best to buy because the home owner still lives in the home but they have to get out. The home we purchased through short sale was in the best condition of the many homes we looked at. Many of the foreclosure homes we looked at were destroyed by poor winterizing and many had destruction due to the previous owners. They were obviously resentful that they lost their homes. Buying a foreclosed home may be challenging but it is worth it. If you can find a home in good condition in a good neighborhood or location. We hope we made the right choice, but only time will tell!
