Some of these will go to foreclosure. 2008 should be better by mid-year

Peter, it has been my experience that the REO properties can be found through MLS by setting your filter to "Foreclosures" in the Disclosures section.

Im in a wierd situation a leas purchase that i signed a contract for is going into foreclosure, my landlord has been taking my rent and not paying his mortgage, does anyone know what options i have at this point, would defeinitely like to still purchase this property but unprepared at this moment becuase of credit isssues

You can foreclosure while continuing to make the payments.John Corey

I read De Roos's books and some Carleton shhets material, and now I'm basically hunting for a deal.Since I started looking I spotted some potential properties.As you guys may know Michigan is second in foreclosures so there are plenty of motivated sellers.

In my area, foreclosure sales are operated on the principle of "Caveat Emptor".

I have read the book, "Complete Idiots Guide: to buying foreclosures".

Loan Criteria Documentation Full Income / Verified Assets Main Credit Score 580 Occupancy Owner Occupied, Non-Owner Occupied Foreclosure 84 Months Old Bankruptcy Ch. 13 84 Months Old Bankruptcy Ch. 7 84 Months Old Loan Amount $100,000 - $1,500,000 Lien Position 1st Mortgage Cash Out Amount $1,500,000 Loan Purpose Purchase, Rate and Term Refinance, Cash-out Property Types Hotel/Motel, Other Commercial Types, Restaurant/Bar Rate Types Straight Fixed, Adjustable, Hybrid Amortization 15 Years, 20 Years, 30 Years States AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY Special Features Borrower is a Corporation, Borrower is a Trust, Interest Only Payments Available, Borrower is a LLC or Partnership You might even have to consider a hard money approach---here is an example of what you can expect:COMMERCIAL, 001 70% commercial Loan Program Notes • Loan amounts are allowed from $100,000 to $5 million

Are the foreclosure sites scatered about the web an efective tool for an investor looking into that market?

Here is the deal I have found a house that is in pre-foreclosure.