hi guys,
i heard a commercial on the radio about a companie that has foreclosures homes for sales and it's easy to be qualified. they can get you qualified with no down payment, bad credit etc.. one of the company is "www.bargain network.com" the other one is the "www.nodresearch.com" company i found it on craiglist.com. when i called they told me that my mortgage will be based on what is owed on the house. it seems too good to be true. and there's refundable fee in case you don't find a house that you like. so how do i find out if they legit or not? does any of you had any experience with any of these companies?
Just make sure you do your research on the foreclosed home market. My hubby and I were looking into buying one as a second home to either rent or use when our family comes to visit and it isn't as good of a deal as it seems. They may offer to sell you the home for $10 but you also have to pay whatever the lien is on the home. It is still cheaper than buying a home at regular price but you need to jump through more hoops to get there!
there is a great program called first time byers program, you can get into a home, new or used, with as little as $00.00 to $1,000.00. all the real estate agents know about it, all you have to do is ask them. good luck.
i worked construction for over 15 years,i had a ceramic tile setting business. the slip shod ways and the budget cuts they use now to build new homes i would not have one.....i would look around and find an older home that was well maintained and go that way. there are inspections to check the electricial and the plumbing and the concrete foundation ect ect to protect your investment and usually you dont have to pay for them as the buyer. also the buy owners can save you a lot of money.
good luck and remember its always buyer beware.
Too good to be true, usually is just that. You don't want to jeopardize your credit on a scam. Many of the banks have listed Bank Owned homes on their individual websites, these are properties that the banks have forclosed on. Additionally, the Hills County Clerks office has a listing of forclosed homes and pre-forclosed homes. I believe they auction homes off weekly. I would advise finding a good realtor and asking them to help you secure a foclosure. They will do this and you will know that for sure that you are not getting scammed.
Put it this way, if a company is offering mortgages on bad credit or no credit they are full of it. The banks right now are not lending money to individuals that have bad or low credit ratings. I would not trust a company that says they can get around it.
Best wishes
My husband, myself and our son have been in real estate for quite a few years. If it sounds to good to be true - it is to good to be true. Be very, very careful about dealing with this type of come on. I would say run, run, run away! You would not believe what a mess you can get into with some of these fly by night companies. I have not had any experience with these 2 companies, but over the years we have had deals that would curl your hair. Find a reputable mortgage company or bank and have them pre-qualify you for a home to see what you can afford then look for a realtor that will give you information on foreclosures, HUD homes, etc. Good Luck!
Hi Sarah,
You don't need to pay anyone for anything in this market. Any Real Estate Agent will do the same for a commission that will be paid by the seller. In this market you can get just as good a deal or better on a short-sale than a foreclosure!!!! Honestly, if you have bad credit your not going to get a loan right now with no money down. If you have bad credit it's better to repair it first and also it's cheaper to rent. Talk to a real estate agent that's been around a long time and knows the ins and outs of short-sales.
You can look for forclosures at the Hillsborough County Clerks office. ftp://www.hillsclerk.com/civil/foreclosure_list/
