|
These are the Government programs that I am
aware of. I don't think I missed any of them. Now for the Bank Foreclosures
or commonly known as Real Estate Owned (REO)
The list is too long to put it here
so I have another page with very many banks listed. Some of the
links go directly to their inventory of REO homes. Some do not.
Some you have to look on the page and find the link to the REO's.
All it takes is finding that one diamond in the rough to make it
all worth while.
I have another page on my web site
where I have put together a very large list of government and
bank foreclosures. This
Foreclosure List contains all the property foreclosures
that a paid list would have. The only disadvantage is you have
to go to each government and bank web site to get the
information and that can be very time consuming. If you have the
time and patience to do this then Good Luck! What I suggest is
that you try what I just described. Now go to this web site and
check out their free offer. The
Realty Store
 goes
thru all the government and bank sites and compiles all the
information on a list by city and state. This is done on a daily
basis so the information is up to date and complete. It is a
really neat site with great graphics. Get their free 7 day
offer. It does not cost you anything unless you do not cancel
your subscripting on the 7th day. Truthfully it is worth paying
for one month and then canceling. You should have found at
least 1 house to buy. If your and investor and plan to buy more
houses then I would just get a subscription. Most investors do
not have time to go thru list after list after list. Their time
is more important then that. So go to the
Realty Store and at least check them out for 7 days. Thanks
for taking the time to read this. Let me know how you did with
the list by sending me an email at
bill@livingstonparish.com . I hope that I have helped.
Bill Elsenrath
the web master and active real
estate investor
|
Government
Agency Foreclosure Listings
-
HUD Homes For Sale in
Louisiana - Web Masters Favorite one to
use!
-
View
Government Foreclosure Listings in Louisiana
-
Listed by Parish and
City.
-
www.hud1.towerauction.net/LA.htm
-
HomeSteps,
A Freddie Mac Unit - Feature Search - My
2nd Favorite
-
View
Foreclosed Homes List by State and City
-
Many Louisiana
Properties Listed
-
www.homesteps.com/hm01_1featuresearch.htm
-
-
Fannie Mae REO
Search - I have used this site many times
- HomePath by Fannie Mae is a great
site with government
- repossessions and lenders to
finance purchase
- www.reosearch.fanniemae.com/research/
-
PASREO - Free Foreclosed Properties Search
- Great Bank List
- Manages REO's for banks and mortgage companies
- On 6/22/09 there were 44 Louisiana properties listed
- www.pasreo.com/pasreo/public/propertySearch.do
- Free Foreclosure Listings for 21 Days
- Get All Your Foreclosure Listings in one Place
- Try It For Free For 7 Days from 3 Companies
-
www.weekendrealestateinvestor.com/free_foreclosure_listings.htm
-
- Bank
Owned Homes
- Foreclosed-REO's
- American Home Mortgage Inc.©
- On 6/22/09 there
were 31 Louisiana homes listed
- You only
need to put in state to get all listings
- www.re.oomc.com/staticBroker/reProperties.jsp
Bank Of America©
- On 6/22/09 just
3 properties listed
- You only need to put in state to
get all listings
- www.bankofamerica.reo.com/search/propertysearch.aspx
- BayView REO©
On 6/22/09 there were
5 properties listed
- Commercial
properties included in search
www.bayviewreo.com/
-
-
BB&T©
On 6/22/09 No Properties were listed
Chase©
- On
6/22/09 there were 30 properties listed
- You only
need to put in state to get listings
Coldwell Banker©
On 6/22/09 there were
44 properties listed
- Takes a while to
load but is well worth the wait
Compass Bank©
Country Wide Mortgage©
(Now under Bank of America 06/16/2009)
Fifth Third Bank©
GRP Financial Services Corp©
Home Loan & Investment Bank©
HomEq©
- HSBC©
- IndyMac©
Intergrated Asset Services©
M&T Bank©
Ocwen Financial Corporation©
Regions Financial Corporation©
- Suncoast Schools Credit Union©
Suntrust Bank©
- Taylor Bean©
VirtualBank©
Wachovia©
Washington Mutual©
Wells Fargo©
- On 6/29/2009
there were 35 properties listed in
Louisiana
http://www.pasreo.com/pasreo/public/propertySearch.do
-
Wilshire Credit Union©
- Visit
Weekend Real Estate
Investor The story of how I got started in real
estate.
- I have been able to set some links to open in
Louisiana as with the 1st one, HUD Homes. You have to select
Livingston Parish. HUD is my favorite one and I have purchased 5 HUD
homes in the past. First one in 1974 in Kenner La and my last one in
Denham Springs in 2003.
-
- Free e-books on real estate investing
for just looking at the offers below.
- Build A Fortune With Real Estate Foreclosures
and Short Sales.
- Creative Real Estate System With Complete Tools For Today's Real Estate!
- How To Sell Your Home In 21 Days Or Less - With Or Without A Realtor
Or Your Money Back.
-
-
Above you have a list of Banks that have foreclosure properties
in their possession. Banks do not want to be in the real estate
business. They want to get rid of these houses as fast as they
can. Everyday the bank holds the property they lose money.
They have to pay for insurance, maintenance and repairs, keeping
the grass cut, property taxes, advertising and the list goes on.
They want you to buy their inventory of houses! Some banks are
very eager to get rid of houses and they will sell these houses
at a big discount. If you have good credit and CASH you will
just about be able to name your price. If you are like most of
us, you do not have that big wad of cash to plop down on a piece
of real estate. You may just be able to get by if you have a
good credit score. Banks look at your credit score and judge
just how well you will be able to pay back the loan. Higher FICO Scores = Lower Monthly Payments The
magic number of 760 is where you most likely need to be at or
above. I just bought a house for $212,000 with 5% down.
(February 30th 2009) The interest rate on the loan was 4.35%
with 1 point. A fantastic deal for me! Part of the reason I got
such a good deal is because my credit score was 767. The other
reason was just pure luck. The day before the same guy quoted me
5.125%. Believe it or not but I was on the phone with the loan
officer when the rates came out in the morning around 10 AM
Central time. I locked the loan in before he had a chance to
finish talking. He told me this was the best rate that he has
ever seen. Do you think the bank would have given me the money
if my credit score was 725? Maybe so, but I would have needed at
least 10% down. The interest rate would have been about 1%
higher also. So I would have needed over $20,000 for a down
payment.
-
-
I ran the numbers and here's how it went:
$212,000
$212,000
5%
x10%
$10,600
$21,200 Down Payment
$212,000
Finance $201,400 @ 4.35% for 30 years = $1002.59
Finance $190,800 @ 5.35% for 30 years + $1065.45
- This goes to show you that my
Higher credit score gave me 2 advantages. A lower interest
rate of 4.35% vs. 5.35% and I only had to put down 5% vs.
10%. Look closely and see that I also had a lower monthly
note, $63 lower. Higher FICO Scores = Lower Monthly Payments This is my true story. Everything I
have written about above happened just as it is written. So
you are getting information that has happened first hand to
me the web master. I have made this web site because I
really like talking about real estate and buying and selling
property. Real estate is the only thing that I have seen
make people rich. I have seen people go from rags to riches.
I have still got a little way to go myself. When the market
turns around I will be a little better off along with a lot
of other people. You might say that I am "land poor." I wish
I had some money to put down on another piece of property
but this past house has taken everything I have. The house
is now renovated, all paid in cash now that the credit cards
are paid off. You have the opportunity of a lifetime to buy
property at a bargain basement price. The last time it was
this good was back in the late 1980's and early 90's.
I not saying that things could still get worst but it comes
a point that you have got to get off the fence and make a
decision to buy something. The 1st house I bought was a HUD
Repo in 1975. I paid $15,651 for it. It was a great
deal located in Kenner on Loyola Drive. I have started
another web site where I talk about how I got started in
real estate. You can go to
Weekend Real
Estate Investor and read my story. I have
not finished working on that web site so check back every
couple of weeks as more will be added. For those of you that
have read this I want to say Thank You.
I would like to hear from you. So if you can send me an
email to
bill@livingstonparish.com and give me some of your
thoughts.
I'm sorry but I
cannot keep up with the numbers of repos that are coming on the
market. The numbers change everyday.
Livingston Parish Real Estate
Livingston Parish Homepage |