Are you asking if anyone here has been through Foreclosure or Bankruptcy, or who has done deals with people going through one or the other?

I know personally of CA investors who bought properties 12 months ago which are now in foreclosure.

Desperate landlords, people getting a divorce, death of the owner, auctions, foreclosure sales, distressed properties, etc, all are examples of possilbe sources of deals.

This area has been especially hard-hit with foreclosures, and there are tons of small SFR's for sale in the area.

Now your are stuck in a foreclosure process....but since you aren't paying the principal down...you don't really even "own" anything.

He's at 76% of market value and trying to sell for 98% to 99% of market value in a declining market that already has a very high inventory level and has 2.2 million new foreclosures coming on the market in the next 2 years.

Hi,I just came back home after spending 3-4 hrs in my area after visiting the addresses on foreclosures.

If you owe 100k and a foreclosure sale nets the bank 80k there is a deficiency of 20k.

I would suggest you start by Birddogging or wholesaling and then move up to bigger things like Rehabbing,landlording,foreclosures and so on.

Steve Seller has fallen behind on his mortgage or deed of trust, and the lender is threatening foreclosure.