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Thursday, October 21, 2010

How to buy a foreclosure in a robo-signing world

"The safest and best way to buy is still when it's a bank-owned property," said Rick Sharga, a spokesman for RealtyTrac, the online marketer of foreclosure properties. "As long as there's a clear title and the buyer can get title insurance, it's a great time to buy."
In addition to bank-owned properties, there are two types of foreclosures you can buy: 1. pre-foreclosure; 2. sheriff's auction. All three are affected by concerns over the way foreclosures have been handled.
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