Foreclosures Boom or Bust ?

I'm sure you are aware that foreclosures right now are exploding with interest because people are finding out it is a better, safer,and more secure way to make a living. It's no secret that foreclosures are at a 30-year high.

Why? Some may feel the economy is to blame. Still others say it could be due to unemployment. Yet others speculate that it could be the leniency in the lending business.

Whatever you choose to believe, the fact still remains that foreclosures are at record highs. This is wonderful news to the investor. This just means there are plenty to go around and several to search through so you can find that "diamond in the rough".

Most people have heard that foreclosures are or can become a great investment. So why doesn't everyone do it? Is it because it's hard? Too time consuming? Takes a lot of money?

These are all good answers, however none are correct. Through our research, we have discovered that most people just lack the motivation, desire, and knowledge.

They are stuck in what some call a "comfort zone,"satisfied with their surroundings, living from paycheck to paycheck.Foreclosures are not new by any means. During the depression, savvy real estate investors were making all the money investing in Real Estate.

They would buy houses dirt cheap, then sell them for a little more than what they paid for them. So why do the rich keep getting richer?

They know where to find the money. Foreclosure is just one of those areas. It was Robert Allen who said "More bargains are available in the area of foreclosures than in any other area of real estate."

Foreclosures to most people automatically imply the word"discount," which is great.

This is exactly what you are after. You are after properties with discounts, which means you are looking for homeowners in distress. You are looking for people in desperatecircumstances, who are motivated, who want peace rather than money.

Are there people out there like that? Absolutely...Without question! Now more than ever.

There are several reasons homeowners become delinquent on their mortgages. It could be because of a job loss, divorce, death of a spouse, illness, job transfer, economic conditions and so on.

These are all unfortunate situations, but the truth of the matter is these situations happen all the time. It's now your goal to help this homeowner get out ofthis situation. You are trying for a "Win-Win". You want to make money; they want out of their unfortunate situation. Most people have a lot of pride in their home; therefore, the biggest challenge they face is embarrassment.

They don't want their friends, family and neighbors to know they are about to lose their home. So they would rather take a loss -- "sell the home" and start over from scratch. So how do you find these homeowners in distress?

Next time I will share with you a few secrets that will help you find homeowners before all your competition.