Consulting

`American Idol' cuts another finalist, leaving 6 contestants (AP)

AP - The praise of Mariah Carey couldn't rescue Kristy Lee Cook from elimination on "American Idol." The 24-year-old resident country singer from Selma, Ore., was the latest casualty as the Fox sing-off narrowed the competition to six finalists.

Today's economy is having a tremendous impact on the housing market. As cost of living expenses rise disproportionately with salary, many people are finding that they are living in houses they cannot afford. While perhaps an unfortunate experience for the homeowner, the investment potential for such a situation is astounding. For this reason, foreclosure real estate investing is gaining popularity in America.

Foreclosure real estate investing can be extremely profitable, if done correctly. Often it involves finding properties in foreclosure, and offering to acquire the property through what is known as the short sale. Short sales allow banks and other lien holders who have assumed ownership of a defaulted property to recover some of their potential losses. Through short sales, the potential buyer negotiates with the lien holders to purchase a property, often at a price well below the value of the property. In nearly all cases, the amount of the short sale doesn't even cover the loan balance of the defaulted mortgage, a bonus for the foreclosure real estate investor.

Despite the loss of monies, there are some advantages to be had by the bank or lien-holding institution. A short sale guarantees a financial institution that at least some of the money from a defaulted mortgage loan will be recovered. A Loss Mitigation Department can negotiate the best deals to reduce the overall loss margin for the bank. Even with the loss of some funds, holding on to foreclosure properties can represent a huge liability to the financial institution. The recovery of any money is better than none at all, so the short sale is a way out, so to speak. The real estate investor wins.

Finding properties for foreclosure real estate investing is not difficult. Many listings can be located through online databases. Additionally, many financial institutions may advertise their foreclosed properties both in print and on the internet as a part of the institution's site. The driven real estate investor recognizes that potential sales are everywhere, and uses all of his or her resources to locate short sale candidates.

Foreclosure real estate investing is a great opportunity for investors to obtain homes cheaply, and sell them again for large margins of profit. As with any type of investment, there are some risks involved. However, in today's 'Buyer's Market,' the benefits more than outweigh those risks. For the right person, foreclosure real estate investing is an excellent and secure way to invest.

About the Author:
John Krajewski is a 33-year old real estate investor who has spent several years building a successful REI portfolio. After facing and conquering the common REI trials and tribulations that most new investors deal with, John has poured his wealth of valuable information into one amazing e-book: Secrets to Foreclosure Profits. This powerful e-book teaches real estate investors of any level how to profitably invest in foreclosure properties using the insider secrets and little-known tips discovered by John during his direct experience with foreclosure REI. Besides real estate investing, John also enjoys snowboarding, mountain biking, networking with other investors, and spending time with his family. Learn more about John's e-book Secrets to Foreclosure Profits at http://www.4closuresecrets.com

posted by law65716 @ 10:30 AM