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Foreclosure Real Estate - by Mark Moyo A foreclosure is a legal proceeding in which a bank or lender repossesses a parcel of real estate, and presents. an opportunity for investment in 3 stages. A pre-foreclosure is the period between the mortgage lender's notice of mortgage default and the actual foreclosure auction sale when bargain can be had. If the homeowner is unable to sell the property in this first stage, it goes to foreclosure auction, which present yet another buying opportunity. And if the bank has already tried to sell the property at a foreclosure auction and has not been successful in getting bids, it becomes an REO foreclosure, and presents the final bargain buying opportunity. |
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