Home foreclosures and big profits just another myth

Home Foreclosures and Big Profits? Just Another Myth

There are a number of people offering their "secrets" of how you can earn a fortune investing in foreclosed homes. It's harder than you think.

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Everyone would like to find a way to make a lot of money without doing a lot of work. Getting rich quickly seems to be the American dream. And if you watch a lot of late night television, you might think that you have found the ticket to fast riches by investing in foreclosed homes. There are advertisements that offer to tell you the "secrets" of buying distressed property with no money down and five figure profits in as little as 48 hours. Other advertisements state that foreclosed houses are available "in your area" at rock-bottom prices or that some troubled owners are "desperate to sell." Can this be true? Is there easy money to be made buying and selling foreclosed property?

Home foreclosure is the process by which a home is taken from a buyer by someone with a lien against the property. Most of the time, the lender initiates this when the buyer has not made payments on the mortgage for an extended p

 

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