Orlando, Florida (PressExposure) April 14, 2008 -- He will explain the advantage of pre-foreclosure and what it means for anyone who wants to take advantage of the current real estate market.
According to, Jeff, âGenerally pre-foreclosures are a great investment as long as you know what the risks and benefits areâ¦the property owner simply wants to get out of the property as soon as possible and that can be a great opportunity for the investor. Because of the epic increase in home foreclosures all across the U.S., now is the right time for investors to purchase property. Once you understand what exactly a pre-foreclosure isâ Jeff says, âyouâll see how to benefit from it.â
Technically, a pre-foreclosure is a process in which a mortgage loan is in default due to lack of payment. Usually a notice of default will have been filed as a first step. If the default is not cured either a judicial or non judicial proceeding is started or property is subject to foreclosure. Pre-foreclosure is sometimes known as Lis Pendens (lawsuit pending) in states that conduct judicial proceedings.
Usually both the lender and the home owner want to keep this from occurring which is why they are willing to negotiate with investors. Lenders prefer to sell the mortgage at a lower price to investors than allow the value to depreciate while the property sits idle. The home owner would rather have an investor take over the mortgage so they can satisfy their debt. Some of the major benefits of a pre-foreclosure purchase include the assurance of always securing a clear title, which saves a lot of time, cost and apprehension when buying foreclosures.
Jeff Kaller will discuss the technique of negotiating short sales at two all-day workshops in Chicago, IL on February 16th and 17th. Registration and additional information are shown on his website at [http://www.jeffsworkshop.com/]
Jeff Kaller has students from Cook, McHenry, Kane, Dupage and Kendall Counties including Arlington Heights, Brookfield, Chicago, Franklin Park, Holbrook, Indian Head Park, Iverness, Kensington, Greenwood, Milbrook, Richmond, Rosemont, Woodstock, Big Rock, Kaneville, Adddison, Roselle, and Oswego, to name a few.