For many investors looking to purchase property in the Springfield or surrounding areas, acquiring homes directly from lender is often preferred by real estate investors and even some experienced Springfield area home buyers as the process can be a less-emotional home purchase process and more importantly more predicable (especially the ability to typically firm up a specific closing date - something nearly impossible with a short sale) . This is very different than the process of purchasing from from an Springfield area distressed seller facing foreclosure - and whom may or may not be able to go through with the transaction should the lender turn down the short sale request and contract.
Warning - most of the Springfield home buyers we encounter who initially desire to purchase a foreclosure have this misconception - and it's a huge one with major implications - Not every REO/Foreclosure or Bank Owned Property for sale in the Springfield area is a good deal.
We find many lenders with property for sale in the Springfield metropolitan attempt to mitigate their losses by setting as high a price as possible on the homes they foreclose on and re-market for sale. Now, the good news is the fact that we've seen others lenders in the Springfield area who are focused on liquidating foreclosed property quickly as these REO assets/properties have a negative impacts on the lenders financial conditions and may cause the lender to face FDIC or other Federal scrutiny. Based on our extensive knowledge of the foreclosure market in Springfield and long standing relationships with lender asset managers and bank foreclosure officers -- we often have access to inventory before it actually hits the market in Springfield - something extremely valuable to a home buyer or investor who desires a foreclosure.
If you act quickly, decisively and proactively, you can avoid foreclosure on your Springfield Home. For Springfield area homeowners who are struggling to make mortgage payments and/or sitting with a home with zero or worst case negative equity the options may at first glance seem limited. We definitely have seen a rise in the number of homeowners in Springfield with adjustable mortgages which are resetting and unable to refinance and now these sellers are looking at the possibility of facing foreclosure due to the 'payment shock' of the huge rise in the reset payments.
We receive calls each week from Springfield area homeowners who are looking to avoid foreclosure! See our Stop Foreclosure - Springfield Short Sale Help Center to learn about all available options to avoid foreclosure in the Springfield area.
Already behind on your house payments? We are experts in stopping foreclosure FAST! Call today for assistance - 402-680-7000- take action immediately and schedule a Free short sale consultation.