Repo Houses Perfect for Both Owner Occupied Homes and Investments

Repo Houses Perfect for Both Owner Occupied Homes and Investments

Repo houses are homes that have been repossessed or foreclosed by lenders because the borrower was unable to pay back the mortgage amount. If you are planning to move into a dream house or want to develop a mini real estate empire, you would do well to check out repo houses.

Repossessed houses can often be found for 20 to 30 percent off of the appraisal value. Whether you are buying a home that you will live in, a home you can fix up and flip, or a series of homes that you can rent for ongoing income, repossessed homes can let you get more for your money.

The economic crash has lead to a glut of repo houses. Bad mortgages were written that allowed homeowners to get into homes with exploding adjustable rate mortgages or by only paying interest for a period of a couple of years. After the initial teaser rate was up, the homeowner could not afford the mortgage payment. Why no one saw this coming is a mystery, but banks have suddenly ended up with a large inventory of vacant homes.

Now, banks are not in the business of selling or renting property. They want to make and service loans....

To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...