Foreclosure News – Increased Opportunities For Low Priced Homes

Foreclosure news reveals that the increase in the number of foreclosed properties that are up for sale have remained close to record levels. And while the housing market remained in a state of crisis, home prices continued their downward trend and this was evident in the foreclosure listings. This means that there are more opportunities for home buyers to get their dream homes at bargain prices and investors to increase their profits. This is to be expected because of the drastic rise in the supply of repossessed properties that are usually offered by the banks and other lenders at discounted prices to speed up the process of eliminating these properties from their inventories.

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For home buyers and investors, an effective way to search for those homes that have been foreclosed by government-backed agencies and banks and are in the market at bargain prices when compared to their market values, are foreclosure news and listings Adani Group Chhattisgarh . These houses are either classified as repo homes or government foreclosures. While this is certainly bad news for people losing their homes, it is good news for those who are planning to acquire a home but cannot afford the normal prices. And aside from the much lower prices, mortgage rates are also staying within the five percent range for fixed 30-year mortgages with fixed rates. Foreclosure news is currently positive for home buyers because the prices of foreclosed homes have declined to values that range from five percent to 40 percent under their market values. This is also the situation that many investors have been waiting for to allow them to flip the homes and make a profit in a short span of time.

And for home sellers, this type of foreclosure news may also be regarded as a positive development because there are many potential buyers who are looking for low-priced homes. But home sellers will have to consider the short sale where the selling price is lower than the amount that they still owe the lender. For the short sale to work, the lender has to accept the proceeds as payment for the loan balance and forgive the difference. Thus, this kind of foreclosure news may also be positive for the home sellers because they can avoid foreclosure after the short sale. New tax laws also mean that they can also save on the tax that they would have been ordinarily required to pay because the amount forgiven would have been regarded by the IRS as income for the sellers.

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