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REO & BPO Program LENDERS CLICK HERE TO VISIT OUR REO-BPO SECTION. Pre-Foreclosure/Short-Sale SELLERS - During the process before the bank takes your home you are actually in "Pre-Foreclosure". The bank must follow certain steps to foreclose on your home according to state law. It is possible to stop foreclosure during this time and save your credit. For more information please visit the How to stop Foreclosure/Short Sale Section. BUYERS - Pre-Forelcosures are opportunities to purchase a property when the owner is behind in their payments and foreclosure from the bank is imminent. These sales are usually referred to as "Short Sales" in which the bank may or may not agree to sell the home for less than the homeowner owes. I work with buyers and sellers in performing short sales on a regular basis. If you are interested in purchasing pre-foreclosure properties send an email to Bo@846HOME.com
Bank Foreclosures Bank Foreclosures occur when a bank buys the property back at auction because the homeowner is behind in payments. There are strict guidelines outlining what steps the bank must take to foreclose and how they can take possession. If you are fighting a foreclosure on your own home or you would like more information on foreclosure opportunities in your area send an email to Bo@846HOME.com
FHA Foreclosures FHA foreclousres occur when a home is foreclosed on by a bank and the loan was insured by FHA. Typically the bank forecloses and then sells the home to FHA. FHA then manages the property and puts it up for sale. Some FHA properties give a preference to live in owners as opposed to investors. If you would like more information on FHA foreclosures for sale in your area send an email to Bo@846home.com To see a list of FHA Foreclosures in Illinois, you can visit this official Federal Government Website for FHA Foreclosures for sale in Illinois. All of these properties are listed in the MLS and only a Government Registered Real Estate Agent such as myself can show you these properties: VA Foreclosures VA Foreclosures are similar to FHA Foreclosures. Typically a VA Foreclosure occurs when the homeowner has not paid the mortgage and the bank forecloses on the property. The bank then sells the property to the VA who manages the property and puts it up for auction. There is a 10 day simultaneous waiting period when a VA property is listed for sale during which time no offers are accepted. If you would like more information on VA Foreclosures available send an email to Bo@846home.com To see a list of VA Foreclosures in Illinois, you can visit this official FHA Sales Partner, Ocwen. All of these properties are listed in the MLS and only a Government Registered Real Estate Agent such as myself can show you these properties:
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