Maryland foreclosures: how to buy
Folks, I'm still out of town, but don't miss Hanah Cho's excellent article in Sunday's paper describing how to buy foreclosed houses in Maryland. You might enjoy lower prices, but you'll certainly work hard for the savings.
However, given the pressure on the market, you might discover that buying houses in the traditional way might just be the more inexpensive route, especially given the length of time that might be required to buy a foreclosure.
Posted by Liz Kay at 9:09 AM | Permalink
| Comments (3)
Categories: Cheap/Frugal, Home/Real Estate, How To
Categories: Cheap/Frugal, Home/Real Estate, How To
Comments
Buying foreclosures has been listed as extremely dangerous and costly. Has anyone else found this to be true?
Richard, I think the examples Hanah listed in her story support that theory ... but at the same time, if you put in the effort and stick with it, you could be rewarded with a house at a discount in the end. You may not find the house of your dreams that way, though ... --- lfk.
Posted by: richard t Marotte | June 5, 2009 11:53 AM
I really feel that you are absolutely correct! What else comes with a foreclosure? The banks should end up with these foreclosures and pay royally for them as they should have never approved the mortgages from the start
Posted by: richard t Marotte | June 5, 2009 5:32 PM
I can understand how people get into financial trouble and foreclosures are to be expected. But if it can be proven the loan was given even if the applicant was not qualified than the bank should eat the difference. I see where CitiBank is giving fifty percent increases in salary to their employees now that is funny. Better salaries for incompetent workers who could not figure out that someone earning $60,000.00 a year could not afford to pay for a $600,000.00 house with 12 to 14 thousand a year in taxes. Wonder why this country is in trouble?
Posted by: richard t Marotte | June 26, 2009 3:20 PM