how can I find a free record of properties if the house is a foreclosure?
Jun 23, 2009 in
Financial and Loan Tips
I.Beatriz .
We just put a bid in a house that is a foreclosure, but we are very curious to know why is a foreclosure, is a 6yr old house, very beautiful in south irving,Tx and I been surffing the net looking for any information I can gather. Any suggestions?
We just put a bid in a house that is a foreclosure, but we are very curious to know why is a foreclosure, is a 6yr old house, very beautiful in south irving,Tx and I been surffing the net looking for any information I can gather. Any suggestions?
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3 comments
ang l on June 25, 2009 at 1:30 pm
the previous owners could not pay the mortgage. that is what foreclosure is all about. if you do not make your mortgage payments it will happen to you too. good luck.
src50 on June 27, 2009 at 3:58 am
There is only one reason for foreclosure: the borrower defaulted on the loan.
Dude Dennis on June 27, 2009 at 6:22 am
The beauty of the house is not a factor. In fact, that’s probably *why” the house is in foreclosure…because the buyer fell in love with it, couldn’t afford it, didn’t pay the mortgage and went into default.
There is no risk here that the owner was an axe-murderer and the government seized the house. It’s also not possible that there is some hidden problem with the house.
Remember, it got foreclosed on, it wasn’t sold or rented out. No one intentionally lets there house get foreclosed on if they have the money to pay the mortgage, but don’t like something about the house itself. That only screws them for several years to come.
It’s completely safe when a house is in foreclosure to assume that the mortgage wasn’t being paid, as it the case right now with millions of Americans.
I suggest if you love the house, have a stable and secure income (unlike the previous resident), and can afford it, BUY IT and enjoy!