How to Buy a Foreclosure or Short Sale Home
www. JohnCLewis.com Temecula, Murrieta and Hemet Real Estate super agent John C Lewis explains how to buy a foreclosure or short sale home without getting burned.
Video from: House Financial Services Committee – September 20, 2007 Full committee hearing on “legislative and regulatory options for minimizing and mitigating mortgage foreclosures.” Witnesses included Henry Paulson, Secretary of the Treasury; Alphonso Jackson, Secretary of Housing and Urban Development; and Ben Bernanke, Chairman, Board of Governors of the Federal Reserve System.
Dude! Just a simple question, I came upon a home in Florida that originally went on the market for $149,000.00, now its at short sale for $49,000.00 – what is the guidelines is far as value when making an offer m- would it be smart to ffer 60,000? or more? So you make sure you get the home – or offer lets say, 50,000? Or less?
Great information! I’m a veteran trying to put an offer with a VA loan in So. FL, I have heard the VA has many restrictions specially with short sales/foreclosures… is this true? how does it differ besides the no PMI, no down payment? Thank you in advance!!!
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This is the best advice I have ever heard thank you for taking your time to do this videos. I hope the community really appreciates what you are doing in this kind of a market
Thanks john,
I’ve run into a bunch of people who have gone through the process of a home auction and got screwed!
I guess sometimes people get blinded by trying to make a quick buck…trouble is, it never works.
Slow and steady works much better…
Thanks again John
Keep ‘em coming!
This is a great video. You just can’t get info like this. John I’m going to call you so I can flip a house. Thank
Thank you John for the most wonderful advice, I will pass this information along. If anyone needs an informative realtor, I will surely let them know about you. Great job! Thank you again.
GREAT VIDEO. THANK YOU
@rushin2 yeah i heard about that.
@cayman187
In reality representatives are not contracted with any of their constituents, but with Government. That is why they work VERY hard to make sure Corporations are taken care of, while in turn Corporations take care of them. They represent “persons.” I’m not a person, neither are you…
You are, for example, a Corporation as well – your CAP lock name on your birth certificate or your credit card.
By the way, did you know that Hitler was nominated for Noble Peace Prize in 1935?
This is a beginning of a total inferno – Ron knows and understands it too… Good for him!
It’s time people should start sending IOU’s to their respective “lenders” as US Gov. does with Social Security Trust Fund (full of IOUs and nothing else), California issuing those notes, etc, etc…
The Truth is that in debt economy no lender should refuse payment in debt! Meaning – if you send IOUs – they are as “good” as your plastic or your signature.
Just FYI – in case you are out of “greens”
Ron Paul For president!!!!!!!!!!!! all the way.
Oh shit! We need Superman to save this financial meltdown!!!!
call your representative and have them sponsor HR1207. bring an end to the Federal Reserve. I agree with you completely. we have to take a stand and call our representatives. they get 20 calls a week from me alone.
if the govt wants to do any thing for the economy theyd do cuts of their own, and theyd stay the fuck out the market. the govt is WAY TOO BIG, we have to pay for it too. DEA is fuckn worthless! homland security is fuckn worthless, prison system is way too big WE the people have to pay for their cars and homes they dont produce shit for this country but they want to get even bigger!
bernanke = devil bernanke = hitler
buy silver, store food, prepare… the time is now.
i hope that fucking prik laughing can bring himself to watch this what a fucking twat he is most real people thats what i call em and not cunts like him in front row know whats happening ron paul for god cus hes got more balls than anyone ive met
You and EVERYONE else come check out my channel and please leave a comment on my Page!
this is what u american fools dont get.not everyone who smiles with u is your friend and not everyone who comes across as an enemy is your enemy!!!
That guy in front of RP can laugh all he wants but it is the inevitable truth that we have to face is that we’re being destroyed, deliberately, by our own government and the unsound monetary policy that it’s been following for years.
someone bless Ron paul..be it god or what have you.. this guys word is getting out fast.. but not fast enough..he is doing his job my saying it we need to do our job by spreading it..
u stupid americans!!!…u people are going to work tomorrow to pay for yesterdays bills …other countries worked yesterday to pay for tomorrows bills…when r u going to figure this out??…credit credit credit….if u dont make it dont buy it…cash baby cash
I’m in, Crys.
whats sad about all these foreclosures is that it’s not just affecting lower and middle suburban. It’s hit the upper class like the hamptons. We are destroying savers when you can just foreclose on a $14million dollar home. Where did all those millions come from? Out of thin air.
The value of the house you just bought will go down as the whole market slows down further. It’s not the bottom yet.
Same can be said on your renting house, as the price of houses go down, so do the rent. You will have to compete against other rent houses.
It’s not the best time for buying a house for investment purpose now. People buying house now because they have to move, job change etc.
By low, sell high, still works.
buy guns a revolution is coming
There is no correlation between wages and home prices after you bought the home out right. A millionaire can sell all his/her assets and live in a $30k house undetected from society and live frugally. A house is actually a liability. Anyone who buys a house is always at a loss because of property tax/maintenance. Once a person buys a McMansion and realizes it can’t be sold easily, reality kicks in and the wealth fades.
Where do you go to find forclosures?
I just purchased a Foreclosure . If you look and do your homework you can get some great deals. I’m renting it out so I’m looking to make a profit.
Im just sick.foreclosures…more then 700 families loseing there homes per day.headlines in yahoo and google…show the positive like get a great deal on a home or how to find the best job now?just like the war they will not dare show the familys or soldiers who bear the disaster.hide it away from us so we ignore and keep working to survive..
This bailout needs to be stopped price fixing never has and never will work what would be so bad about prices going down so my land not worth as much its never going to be for sell in my lifetime anyway this is all just a big scam shutting down bank and selling and selling rrrrrrrr
Odanrot: Where did you get this information? Do you have a article of clip that proves Paul is in favor of what you say he is? Because im pretty sure you are wrong on that aspect? What lead you to believe this anyways?