Foreclosures

Hi Everyone:

I'm happy to announce the foreclosure freeze on Bank of America & GMAC has been lifted!

However, if you are purchasing a Bank owned Property remember it's very important to purchase title insurance!

For more tips on purchasing Foreclosure properties,
Please contact: Kim@RealtyDelia.com or visit: www.RealtyKim.com

Buyers of Foreclosed Homes May Face Problems

Foreclosures are at a stand still right now due to invalid paperwork. During the Foreclosure process some papers where not properly notarized and not all procedures where followed. This was caused by the abondance of foreclosures and overwhelmed employees. In many states the lenders are going back on the foreclosure and fixing these issues. What does that mean if you purchased a foreclosure? I haven't seen anything come through the courts yet on this, but they are giving some homeowners a chance to reclaim their home.

My reccomendations when purchasing a bank foreclosure, always purchase title insurance regardless if you are paying cash or financing. Always protect yourself.