Current Foreclosures

Did you notice that oxymoron? Actually, it's a rather cute name for a website. This Current Foreclosure site has thousands of foreclosures listed. Might you not need an agent after you look at the list? Yup. It's always good to have an agent, whether you're a seasoned investor or a newbie. I'm not an agent but I'm sure you can find one nearby.

Foreclosures

A foreclosure is a result of the acceleration of a debt that cannot be paid as agreed. If a bank asks for all its money all at once, foreclosure is almost inevitable. It is not a bankruptcy though. A bankruptcy comes as a result of every lender coming fast upon you demanding payment in full. I often wonder why people who are about to lose title to their property do not sell prior to foreclosure. Of course, if your mortgage is upside down (when you owe more than the property is worth), it would make little difference, no.? I often wonder what would happen if banks simply restructured every bad loan - dropped the interest rate and extended the term. Is 6% unmanageable? Drop the deal to 1%. Is thirty years not enough time? Extend the deal to fifty or sixty years. A hundred years from now, people will be looking back at how homes used to be financed and they will scratch their head in bewilderment. Foreclosures only happen when everybody wants their money NOW. I say: What's the hurry?

Blagojevich saga

Mr. Rod Blagojevich seems to be giving the people of Illinois a hard time. From a New York Times story: “Around the state, elected officials, many exasperated after three weeks of topsy-turvy political drama, responded with fury. “This provocative action is an insult to the people of Illinois,” said Pat Quinn, the lieutenant governor and a fellow Democrat, who added that the governor had defied the desires of an entire state.” Let me suggest something. If someone just finds Rod a good job, he will go away quietly. He needs the money from his job as Governor; he would otherwise not be fighting so hard to keep it. It’s like when your best friend suddenly takes off on you. You will have a hard time dealing with it until you find someone else, no? PLEASE. The woman at left seems to be saying something like “Catch me if you can.”

Advertisement 2

There is a house for sale here and it's a good deal. You will never see this post unless it's by accident. In any case, it's a 4 bedroom with 2 baths and is 2090 square feet - on the west side of town - like new. Affordable at $220,000. Boy, oh boy - I sound like an agent. This is a partial view of it. Good luck.