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Calabasas home foreclosure news
By admin | March 29, 2009
John Reed, Editor of Real Estate Investors Monthly, states, “You can buy foreclosures for as cheap as 30% or 40% below market, but most foreclosures sell for 5% below market.” This may scare away some investors who thought they would be able to secure a foreclosed property for much lower, however, don’t count out foreclosure properties yet.
If the Calabasas CA homes for foreclosure are purchased from the lender who holds the mortgage that is in default, the lender may be willing to waive some of the closing costs, or perhaps lower the interest rate or reduce the down payment amount. This is a great way to save on some out of pocket expenses while securing the Calabasas foreclosure property.
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