State-specific "Foreclosure Laws" and "How To Buy Foreclosures" offer helpful tips
BOCA RATON, Fla. – December 20, 2005 – Foreclosure.com today announced the addition of “Foreclosure Laws” for each of the 50 states, including the District of Columbia and Puerto Rico, as well as detailed information on “How to Buy Foreclosures,” to its industry-leading Web site.
“Foreclosure laws differ from state to state and a step-by-step process on how to buy these properties is hard to find,” said Brad Geisen, president, Foreclosure.com. “We’ve gathered all of this information and made it available conveniently in one place on our Web site.”
Leveraging the new "Foreclosure Laws" section, a subscriber to Foreclosure.com can now easily access information that directly impacts his or her purchase of a foreclosed property in a particular state/territory, including:
- How trust deeds/mortgage liens are treated
- How mortgages are foreclosed
- The legal instruments that establish a mortgage
- The amount of time it takes to foreclose a property
- If right of redemption exists in a state
- Whether or not deficiency judgments are permitted
- The statues the govern a particular state’s foreclosures
The new “how to” instructional information helps a subscriber who is unfamiliar with how to buy a foreclosure get started. Whether it’s in the preforeclosure or auction stage of the foreclosure process, detailed steps on how to purchase a property prior to it becoming Real Estate Owned (REO) are now offered on the Web site.
In addition, this “how to” section contains the primary method of mortgage foreclosure for each state and the length of time it takes to foreclose on a property in the state, as well as a comprehensive glossary of key industry terms to provide further clarification of the process.
“We want our subscribers to get the most out of the more than 1.3 million residential real estate market opportunities available on our Web site,” said Geisen. “The state laws and detailed procedures provide our subscribers with the resources they need to make successful foreclosure purchases.”
About Foreclosure.com
Based in Boca Raton, Florida, Foreclosure.com delivers the most comprehensive, up-to-date database of residential foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in the United States to its customers and business partners through its cost-effective, Web-based subscription service. Through the company’s work with hundreds of the top lending institutions and government agencies, Foreclosure.com has access to the nation’s largest inventory of residential foreclosure real estate, including Real Estate Owned (REO) properties; Department of Housing and Urban Development (HUD); Department of Veterans Affairs (VA); Fannie Mae; and other government agency and financial institution properties; as well as listings from an extensive network of corporate sellers. On the Net: www.foreclosure.com
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