Foreclosures are Occuring All Year Round

By: Robert Lam

Imagine if the Superbowl, World Series and the Summer Olympics all happened during the same weekend!

Well, that is what we are seeing with the number of foreclosures in this country-except that this "sports extravaganza" is lasting all year long. The tension and buildup in the housing market is finally coming to a head and fireworks are starting to fly.

Check this out...

The final 2007 figures from RealtyTrac.com shows that foreclosures increased 79% compared to 2006.

1.3 million of the 2.2 million houses that were in default were auctioned off.

The values of those homes are going to be used to determine the comparable market analysis for the homes that are within close proximity. That will affect the value of your investments!

Look for more of the same in 2008 and possibly even worse.

According to the FDIC, they are saying about 1.3 million loans are scheduled to undergo their first RESET during 2008. Another 422,000 subprime loans are scheduled to RESET in 2009.

What we are seeing with a foreclosure epidemic is not ending anytime soon.

So, what can you do?

First of all, don't run like many people are doing. Now is the BEST time to buy properties at a discount and hold them for the long-run to build long term wealth. Interest rates are good to buy investment properties.

Do you feel like your lack of cash or credit will stop you from doing that?

Perish the thought!

You can still buy properties using techniques like subject-to, lease option, seller financing, partnering, etc.

Furthermore, if you are caught up in one of those ARM or adjusting loans, work on refinancing with a fixed-rate loan at today's low rates and bring your consumer debt down!

There is no better time than now to invest in foreclosures and it is all taught in !

It's time to "play ball" and hit a home run, make a couple of touchdowns and WIN THE GOLD-don't FRET. Now's the time to PROFIT!

Foreclosures
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