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MORE & MORE
PROPERTIES WILL BE ADDED VERY SOON. IF YOU'D LIKE A LIST
OF WHAT'S COMING UP IN THE MEANTIME, CALL LAURA B. AT 602.400.0008 AND/OR
EMAIL HER AT
HistoricCentralPhoenix@cox.net.
Foreclosed / Lender Owned Properties / REO's For Sale
We are in the process of
listing an abundance of Lender Owned Properties / REO's
(Real Estate Owned) homes for sale. These homes are
priced SO far below market value we know you'll be
thrilled to view them.
Here's the deal on how and why we can do 100% financing
even in today's market where NO BANK
can do, or will do 100% financing anymore:
These properties are owned by a group of private
investors who have millions of dollars to loan and HAVE
loaned. Like most other lenders today, they have had to,
unfortunately, foreclose on many properties and take
back ownership.
So now, these homes are undergoing absolutely gorgeous
remodels and being put back on the market for WAY below
market value and are move-in ready.
Of course, investors are always welcome to view
inventory at any time or at any phase.
The difference between a
BANK OWNED property and a LENDER OWNED property and why
we're different
When a bank forecloses on
a home and puts it back on the market to sell, the Buyer
still has to qualify for a loan in a Conventional manner
or with an FHA loan. As you probably already know, the
lending crises makes it very, very difficult to obtain a
loan without good credit, a sizable down payment and
other factors. FHA loans are great loans, but since they
have taken away the down payment assistance with
FHA/AmeriDream, it's even harder to buy a home if you
don't have that 3% down. And, beginning January 1, 2009,
the down payment requirement for FHA went from 3% to
3 1/2 %. If you have that, GREAT! You can buy a home. If
you don't, that's where we can help.
Our private lenders can and WILL finance you with
excellent terms at 100% financing. Of course, you will
still have to qualify by proving you can afford the
payment. Your credit will still be pulled, you will have
to fill out a 1003 Uniform Residential Application, show
proof of income and job status, 12 months worth of
rental receipts, bank statements and 2-years of tax
rwturns. Simply put, if you can
afford the payment, you will be granted the loan.
Even if you have your own financing
lined up, you may want to take a serious look at our
inventory as the prices will blow your mind. What you
will be able to purchase will be far greater in value
than most, if not all listings out there.
If you have poor credit,
no credit or questionable credit does not necessarily
mean you will be denied. Just like a bank would have
done when they were giving loans, you might get a
littler higher interest rate depending on the variables
involved, but here's some MORE GREAT NEWS ... You
can rebuild your credit, and, if and when you wish, with
NO RESTRICTIONS as to how long you've had your loan with
these private lenders, you can go elsewhere and
refinance your loan if you wish!
NO Prepayment
penalties EVER.
At the prices these properties are being sold for, a
Buyer, at his or her desired time, is welcome to obtain
their own financing in order to refinance to
whatever other terms desired (if any), while
maintaining a strong equity position. Although
nobody can ever predict values as no one has a crystal
ball, the prices of these homes are so low, we're
confident you'll be making a terrific investment for
your future!
WHY ARE THESE INVESTORS DOING THIS???
Bottom line:
Just like banks, they
have a lot of inventory on their books with more coming,
literally, daily. They need to sell them so they are
willing to let these homes go for prices that are so far
below market value just to move their inventory.
The prices are ABSOLUTELY AMAZING!
You must see it to believe it!
In the next few days, you will see the more, current,
active listings, a list of properties about to be listed
and more! There will also be a LOT more information on
this topic, how we do business so please bookmark us and
come back!
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