Question:
I am interested in learning how the foreclosure market works to buy pre-forclosed homes in Massachusetts. I have a general idea and want to invest in properties prior to going into REO. I would like to learn step by step how it is done in MA as each state may have their own rules. Does anyone know of any good classes that teach investors to do this in Massachusetts?
the problem with a pre-foreclosure is getting the lender holder to take less then the current note not a very easy process, hence most go into foreclosure auction
also when buying a pre-foreclosure you have to worry about and second notes or other liens, since if you buy the place pre all liens are still in place unlike a foreclosure process which wipes out any junior liens,
so have to be able to negotiate with the lenders, and any other lien holders on the property if they do not play then no go
Try these resources which has a lot of free information on foreclosures:
http://foreclosurehomelist.biz
http://flippersonline.biz
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