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Saw a foreclosure property listed on yahoo realestate for $29,000. Is this the total price to buy the property

Property is in first stage of Foreclosure.

Probably not. It is probably the amount of money that the loan is in arrears. Then you would have to finance the actual amount left on the loan. Now it could be a property tax forclosure inwhich case, the property could be owned outright by the owner but they owe 29,000 in taxes and you can buy the property simply by paying the owed taxes. It is something worth checking out.

This entry was posted on Saturday, November 7th, 2009 at 10:20 am and is filed under realestate listing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Saw a foreclosure property listed on yahoo realestate for $29,000. Is this the total price to buy the property”

  1. marvin Says:
    November 7th, 2009 at 4:02 pm

    Probably not. It is probably the amount of money that the loan is in arrears. Then you would have to finance the actual amount left on the loan. Now it could be a property tax forclosure inwhich case, the property could be owned outright by the owner but they owe 29,000 in taxes and you can buy the property simply by paying the owed taxes. It is something worth checking out.
    References :

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