Contact a local realtor. They have the most up-to-date information on foreclosures in the area. Other websites that claim to have foreclosures for sale are either a scam or are not up-to-date. Foreclosures are getting snapped up in a hurry. When you find one be ready to act quickly. Remember that a foreclosure is sold as-is, where is. The bank will make no concessions or pay any closing costs. Get the home inspected...spend the money...because if you don't you will be unable to back out of the deal later.... more
Michelle -- Carrington Lakes is a great place to live with lots of amenities. (I live in Carrington)
Also, Longmeadow has a club house and pool & is a great place also. Just not as many amenities as Carrington Lakes. Give me a call if I can help at 205-915-7653.
Have a Great Day!... more
Well before foreclosed homes are actually listed, they are placed with an agent/broker who has a relationship with that bank or asset company who is handling that property. There is considerable work to be done before the price is set. Usually before a sign goes up in the yard, there will be a piece of paper posted in a window -- there should be a phone number to call on that piece of paper. This is how it works in the Birmingham market -- I worked for a local office with a lot of REO inventory. I hope my comments help.... more
It is so much harder for investors to get loans today. And yet people are looking for nice rentals. Currently all of my rental properties are full and I would like to buy a couple more if I could get the bank to loosen the purse strings and we have been doing this a long time and have credit.
You need to present yourself in the best light. The last vacant home I had, the current tenant paid me for multiple months up front had no pets and did not smoke.... more
Check with a local mortgage company and inquire about refinancing your ALHFA loan into an investment property loan. If you have enough equity in it and income to support the investment loan plus a new home loan, this might work out.
If you do not qualify for refinancing, your alternatives are to sell your present home at some price before making a purchase offer on another home, or walking away and defaulting on your current mortgage, which will result in foreclosure and pretty much destroy your credit. This will make it pretty much impossible to get another home mortgage to buy the larger home you want. Sometimes a foreclosure is unavoidable, but if you can make do with your current home until you get more paid off on the mortgage your credit will actually be stronger and you will be in a better position to upgrade to a larger home at some point in the future.
Hi Wendy, I have found a home that meets your needs but there are others that may be coming on the market. These are bank REOs that may be released. I am a REALTOR with RealtySouth here in Trussville and my husband was a builder here in Trussville. You can visit my web site at jeanthrasher.com or call me directly 205-223-5570. I will be glad to help you find your new home. Look forward to hearing from you.
Thanks, jean thrasher... more