Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders

Product Details

MAKE MONEY IN SHORT-SALE FORECLOSURES.

Foreclosures are the most profitable way to invest in real estate. But most real estate books on foreclosures don't tell you how to invest in short-sale foreclosures--properties with even more profit potential than regular foreclosures. A short-sale foreclosure is a lender accepting a loan payoff for less than the amount owed. This comprehensive new guide from renowned real estate authors Chantal and Bill Carey covers all the ins and outs of short-sale foreclosure investing, from finding properties to negotiating with lenders, to closing the deal and making a bundle. Inside you'll find all the information you need to succeed:

• Finding great short-sale foreclosure deals.
• Dealing with owners in financial distress.
• When to buy short-sale foreclosures.
• Creating equity in foreclosure properties.
• Writing successful short-sale offers.
• FHA, VA, and private mortgage insurance short-sales.
• Purchasing short-sale properties at auction.
• Understanding escrow, closing, and title insurance.
• Flipping short-sale properties.

Biographical Note

Chantel Howell Carey, a member of Zonta International, has handled millions in real estate sales and management as a broker, consultant, and trustee.

Bill Carey began selling real estate in 1977 and is a former director of the San Diego Association of Realtors and the California Association of Realtors. Chantal and Bill are also seminar speakers and international real estate and trust consultants. Bill is a tax consultant as well. Together, they are also the authors of several other books, including The New Path to Real Estate Wealth, Quick Cash in Foreclosures, Make Money in Real Estate Tax Liens, and the bestselling How to Sell Your Home Without a Broker, all from Wiley.

Table of Contents

• Preface.
• Introduction.
• 1. Make Money in Short-Sale Foreclosures.
  • The two strategies to make money in foreclosures are quick cash and long-term wealth building.
• 2. What Is a Foreclosure?
  • A foreclosure is a lender taking a property from a borrower to recover their loan asset.
• 3. What Is a Short-Sale Foreclosure?
  • A short-sale foreclosure is a lender selling a property for less than the loan amount.
• 4. How to Find Short-Sale Foreclosures.
  • You can find short-sale foreclosure opportunities anywhere foreclosures are happening.
• 5. Dealing with Owners in Financial Distress.
  • There are two time periods to work with owners in financial distress.
• 6. When to Buy Short-Sale Foreclosures.
  • Buy short-sale foreclosures before, during, or after the foreclosure sale.
• 7. No Equity? No Problem!
  • You can create equity in the property even if the property owner has no equity.
• 8. How to Bypass the Owner.
  • Contact the property owner before you make contact with the real estate lender.
• 9. How to Write a Short-Sale Offer.
  • There are no ands, ifs, or buts when you write a short-sale offer.
• 10. Buying from the Lender before the Foreclosure Sale.
  • The bottom line is the bottom line when you are buying from real estate lenders before the foreclosure sale.
• 11. Understanding Short-Sales from the Lender