Flint foreclosure listings and properties have come as a breath of fresh air to prospective homebuyers on the lookout for splendid homes at affordable prices. The frenzied activity and intense competition at the property auctions is a sight worth seeing. Patently, the residents of Flint appear to have been as bitten by the government foreclosures bug as in other parts of the US.
Flint is the county seat of Genesee County, and is located along the Flint River, in the US state of Michigan. Flint Charter Township adjoins the city on the west, but it is politically independent. Other cities in proximity to Flint are Burton, Fenton, Grand Blanc, Mount Morris, Clio, Linden, Swartz Creek, Davison, Flushing and Montrose.
To profit from the Flint foreclosure auctions, you needn’t even depend on the property auctions. A careful perusal of the newspapers can enlighten you about home owners who receive notices of default in their mortgage payments by the lenders. You might contact such harassed individuals and attempt to conduct a successful and profitable “pre-foreclosure purchase”. The buyer would be customarily keen to retain her current credit rating as well as to stave off the impending, cumbersome foreclosure proceedings. Smart efforts, coupled with a dash of lady luck, is all you need to have a worthwhile home and a profitable real estate investment at one go.
Latest US Government’s Foreclosure Initiatives
The intending bidders at the Flint foreclosure auctions, as elsewhere, will surely be interested in the following three new measures initiated by the US government with regard to the foreclosures and real estate. Firstly, the new housing bill has enabled the issue of an interest-free governmental grant of $7,500 to all first-time homebuyers at the property auctions. Secondly, by the next year {2009}, a Nationwide Mortgage Licensing System and Registry is to be made ready. All loan officers and loan originators would require compulsorily registering themselves with this central depository. This databank will guard the interests of those availing themselves of loans, and restrain any existing unfair trade practices. Thirdly, alarmed at the plight of the millions of home-owners demurely succumbing to the government foreclosures, the government has come up with a valuable website guiding investors on how to avoid foreclosures. Therefore, you might be able to secure your property the better by acquainting yourself with the contents of the website .
Agents Clarify Property Auctions Maze
Flint property auctions will appear a lot simpler to you, were you to allow people as Leon Knott, George B. Rasch, Dorothy E. Sample, Ann Fotenakes and Larry Piper to guide you through their procedures. They are well-known agents working in Flint, with years of experience, and great familiarity with the local terrain. You need an ally in your search for a suitable home for yourself, and a trustworthy agent can meet this need. He can play a highly useful role by causing you to make sensible decisions regarding the choice of your house, the mortgage loan that you can conveniently repay, and the maximum bid price that you shouldn’t surpass at the foreclosure auctions. The millions of government foreclosures are testimony to the fact that miscalculations by homebuyers can prove them dear. You ought to capitalize on the opportunity presented by the foreclosure auctions, taking care not to fall into the foreclosure trap yourself.
