Foreclosure Cash

The Foreclosure Cash team has been funding foreclosures since 1992. During the mid 1990's, we funded over 2000 transactions, making us one of the largest foreclosure lenders in the nation. In addition, for over 20 years we have actively managed mortgage bankers whose combined deal funding exceeds $5 billion. With significant experience in all facet... s of foreclosure transations, Foreclosure Cash is the right choice for buyers, sellers, banks and realtors. What is a Foreclosure: Foreclosure involves a lawsuit in which a bank, mortgage company, or other lien holder seeks to take an owner's property to satisfy a debt. The bank or lender may actually take ownership of the property or have the property sold to pay off the debt. As a result of the foreclosure, the owner loses whatever rights he or she had in the property. What is a Short Sale: A short sale typically is executed to prevent a home foreclosure . Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency. Additionally, a short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. What is an REO property: Real estate owned or REO is a class of property owned by a lender , typically a bank , after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. The minimum bid in most foreclosure auctions equals the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees. After an unsuccessful auction, the bank will go through the process of ...Read More