how to buy foreclosures like a ninja

How to buy foreclosures like a shogun warrior.

 

This answer to how to buy foreclosures may catch you off guard. You should not buy foreclosures. Not now, not ever. No you didn't misread that. We have a far greater alternative to get profit from foreclosure sales.

 

We're here to tell you that there's a way to pull money from foreclosure auctions that doesn't involved becoming an owner of the house.
Do we have your attention?
Okay, here's what you need to understand. Every weekday, there is a property sold at foreclosure. More often than you might think, the property sells for more than the amount of debt the bank is owed.

 

The excess proceeds, aka overage, can not go to the mortgage companies account. The attorney that handled the foreclosure will turn those overages over to the treasurer for the county where the foreclosure takes place. There are reasons for this. First, the attorney is no longer involved with the distribution of proceeds. And therefore, the attorney is not liable for distributing the money to the wrong person or entity. 3 different types of folks are the possible rightful owner of the excess funds.
The most common entity entitled to these monies is a second mortgage or equity line holder. As a result of the foreclosure auction, this mortgage is worth nothing, and can be had for next to nothing. With ownership of the note, you are now entitled to the surplus funds left over from the foreclosure sale.
2nd most common entity in line for these funds is a judgment holder. Once again, an uncollateralized judgment is pretty worthless. You can pick it up for pennies and then use it to get your hands on the monies left over from the foreclosure auction. Important note here. This money is already collected. You don't have to be a debt collector to claim it with the judgment. There is a third option. The ex-owner, that got foreclosed on, can also be entitled to the money. No kidding.

 

There is a program that will teach you how to make legal claim to these monies regardless of who is entitled to them.
You must remember this. One other program exists out there that goes after this overage money That course concentrates on going after foreclosure overages left from county tax auction foreclosure sales. As you can imagine, you don't find many of these types of surplus funds available. That is because the mortgage company is warned that the count is about to foreclose on the property. Banks pay off the overdue tax bill to end the foreclosure auction. This protects the banks property position. There is another issue with that particular program. That has to do with the fact that tax foreclosures are legally given different treatment.

 

There is a redemption period involved with this type of foreclosure. This redemption period allows the person foreclosed upon to come back up to 1+ year later and claim the property by paying the tax bill. As you can imagine, a redemption period that long can screw up your shot to work these monies.
Serious about making a lot of money from foreclosure sales? Don't overlook our program!
You'll find the program by following the link below:
How to Buy Foreclosures
Peter F. Drucker===We know nothing about motivation. All we can do is write books about it.