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What Does Pre Foreclosure Mean

What Does Pre Foreclosure Mean

Pre foreclosure is a process that starts with the lender sending a notice to the borrower about their default. The borrower will then have to pay back the loan and make sure they are not in default.

In this article, we’ll be discussing what pre foreclosure means, how it happens and how you can avoid being in it.

Pre foreclosure is when a lender sends a notice to a borrower about their default and they have to pay back the loan and make sure they are not in default.

What Does Pre Foreclosure Mean

A preforeclosure is a type of foreclosure in which the borrower does not have to pay anything until the property is sold at a foreclosure auction.

In order to prevent the owner from losing their home, they can offer the lender a new loan that will cover all of their payments. The loan will be repaid when they sell the home at auction.

Preforeclosures are becoming more and more popular as banks and lenders are trying to avoid costly litigation and foreclosure auctions that can take months or even years.

What Does Pre Foreclosure Mean

Pre foreclosure is a term that is used in the financial industry to refer to a situation where a homeowner has defaulted on their mortgage and the bank or lender has started steps to seize their house.

Pre foreclosure can be caused by many reasons, such as unemployment, medical problems, divorce, or death. It can also happen because of negligent loan management or property taxes.

It is important for homeowners who are in pre foreclosure to take action before they lose their home. They need to contact a lawyer who will help them fight for the loan and find an affordable solution that will keep them in their home.

What Does Pre Foreclosure Mean

Pre Foreclosure is the period before a foreclosure sale. It is typically used to determine the amount of time that a homeowner has to come up with the amount of money needed to stop a foreclosure sale.

Pre Foreclosure is also known as Pre-Foreclosure Sale, Pre-Sale, and Pre-Foreclosing. It can be used as an alternative or in combination with other methods such as short sales and deed in lieu of foreclosure.

Some homeowners use this period to sell their homes on their own or find someone else who will buy it from them at a lower price than what the lender would get at the auction.

What Does Pre Foreclosure Mean

Pre Foreclosure is a term that is often used in the real estate industry. It is a way of saying that a home has been sold but there are still some time left before the sale goes through.

Pre foreclosure homes are typically sold at a discount because they are considered to be in need of repair or upkeep, making them worth less than the home’s value if it were to go on the market today.

Pre foreclosure homes can be bought by investors who want to fix them up and then sell them at market value. Pre foreclosure homes often have an appraisal of $100,000 and sell for $80,000, which makes these houses attractive for investors with high risk tolerance or high cash flow requirements.

What Does Pre Foreclosure Mean

Pre foreclosure means a property is in default and the owner has not been able to make payments.

The term ‘pre foreclosure’ can be used when a property owner misses an installment on their mortgage or rents. In these cases, the bank that holds the mortgage or rent debt has already started to take legal action against them.

It is important for potential home buyers to be aware of this type of situation before they purchase a property.

What Does Pre Foreclosure Mean

Pre Foreclosure is a term that has been used to describe the process of foreclosure by the lender before the mortgagee (homeowner) has defaulted on the loan.

The term pre foreclosure was first used in California in 1981, when lenders began to foreclose on homes before homeowners had defaulted on their loans.

It is also referred to as “pre-default” or “pre-foreclosure”.

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In the US, pre foreclosure is the process of a lender’s taking possession of a property before a mortgage loan is fully repaid.

In this article, we will discuss what does pre foreclosure mean and how it affects the borrower. We will also explore the types of loans that are involved in pre foreclosure proceedings and their effects on borrowers.

The article will also provide some tips to avoid getting into a situation where you may need to file for bankruptcy due to your inability to repay your loan.

What Does Pre Foreclosure Mean

Pre Foreclosure is a process where the lender starts the foreclosure process without notifying the borrower.

When a lender starts the foreclosure process without notifying the borrower, they are taking a risk because they do not know if they will be able to sell the property at that time.

A pre-foreclosure notice is sent to borrowers when a lender starts an eviction process against them. The notice informs them that if their mortgage payments are not made by their due date, then their home will be taken by force and sold for less than what it would have been worth before it was foreclosed on.

Boy have we been busy around here. Working with my mastermind clients, we have many pending deals. Quite exciting times. Even in this market, with such low available for sale inventory, we are finding deals… all over the country. No exceptions. Why? Because we are NOT running with the crowd of investors and outbidding each other trying to buy at the auctions, sheriff sales, MLS (multiple listing service) new listings, HUD or REO bank websites.

We are going where other investors do not dare to go. And if they try, they are no match for our fine-tuned skill set. Where are we finding these exclusive deals?

The answer is simple…. Flipping Pre Foreclosure homes that are NOT listed for sale.

We are door knocking and calling owners in default who have equity (value is higher than their loan balances and the owners will get money if they sell their house) as well as calling short sale sellers (negative equity, lender must approve a loss on their loan) who may receive a nice cash settlement from the bank if they get the short sale done by the end of this year.

Finding and contacting these owners the right way and motivating them to sell now, rather than walk away and let their house get foreclosed on… is an art. An art I have perfected in my last 21 years of investing, as well as trained countless successful investors across the country.

(In case you have missed it, check out our real client testimonials, which include their full names and location, so you can see for yourself HERE.)

So here’s a summary of just a few of the deals we have going on right now…

1. Knoxville TN: Pre-Listed Waterfront REO property. Purchased $301,000, plus $12,000 rehab done to date ($85,000 total project budget). After repaired value $550,000-$600,000. Flipped deal as is to another cash investor for $50,000 quick profit in less than 30 days.  Same client has offers out on two more short sale deals:
2. Offer $70,000, plus $10,000 rehab, resale $105,000, Profit $25,000
3. Offer $55,000, plus $10,000 rehab, resale $95,000, Profit $30,000.
4. Eugene OR:  Unlisted Short Sale, Purchase $92,000, plus $46,000 rehab, resale $200,000. Quick flip to cash investor in place for $112,000. $15,000 Quick Profit to client. $42,000 equity to cash investor plus 10% cap on rental.
5. Land O Lakes MI: Unlisted Short Sale, Purchase $160,000, plus $23,000 rehab, resale $239,000. Quick flip to cash investor in place for $215,000. $16,000 Quick profit to client. $24,000 equity to cash investor plus 10% cap on rental.
6. Lawrence NY: Unlisted Short Sale, Purchase $175,000, plus $125,000 rehab, resale $470,000. Quick flip to cash investor in place for $237,000. $50,000 Quick profit to client. $108,000 equity to cash investor plus 6.7% cap on rental.
7. Lexington Park MD: Unlisted Short Sale… approved. Client details to follow.

Wondering how they found and closed these exclusive deals? Join me in my Live Strategy Session Webinar “Find Hidden Motivated Sellers: Land Wholesale Deals Your Competition is Missing” Live this Wednesday, October 2, 2013 6:00pm Pacific. Details and Registration Here.

What Does Pre Foreclosure Mean