Buying a foreclosed home
By Gena Bolton, Sandestin, Destin and South Walton 30A Real Estate
(eXp Realty LLC | CRS, GRI, CLHMS | SoWal 30A Your Beach Awaits | )
Patience is a virtue, and a necessity, when buying a foreclosed home. Use this comprehensive Web site to help you navigate through the Gulf Coast real estate landscape http://mobile.alabama.mls.searchrealestatehomesforsale.com see top of page for link to the area's lender foreclosures But lenders selling properties often are just asset managers, not really owners. A deed may bear the lender's name, but because banks and other lenders sell loans into the secondary mortgage market, the real owner of both the loan and property is often hidden. The lender "doesn't have to tell you who you're actually dealing with," They keep it a complete mystery to keep control. And if the loan carried private mortgage insurance, its guarantor may also need to sign off. "Realtors are used to 24 to 48 ...