Minneapolis Foreclosed Homes and Houses for Sale

Minneapolis foreclosed homes and houses for sale mostly features HUD, VA or bank REOs foreclosure auctions. All these are respected by the people for the clear titles and their transparent and fair auction procedures. The phenomenal discounts offered upon these homes represent a bonus icing on the property auctions cake.

Minneapolis: Picturesque City for Relocation

Minneapolis is nicknamed the City of Lakes, with 20 of them scattered around its expanse. Indeed, even its name combines the local Dakota word “mni” meaning water, with the Greek “polis” for city. Minneapolis is the county seat of Hennepin County, in the US state of Minnesota. It adjoins Saint Paul, the state’s capital, to be collectively known as the Twin Cities. Minneapolis and Minnesota celebrated their sesquicentennials, or the 150th anniversary of their founding, on July 20, 2008. Once regarded as the world’s flour milling capital, Minneapolis today serves as the primary business center between Chicago, Illinois, and Seattle, Washington. The city makes an outstanding choice for relocation, with its cultural organizations and charitable social programs.

Close suburbs of Minneapolis include Bloomington, Brooklyn Center, Chanhassen, Crystal, Dayton, Eden Prairie, Excelsior, Golden Valley, Greenfield, Greenwood, Hopkins, Independence, Long Lake, Maple Grove, Medicine Lake, Minnetonka, Mound, New Hope, Osseo, Plymouth, Richfield, Rockford, Rogers, Shorewood, Spring Park, St Anthony, St Louis Park, Tonka Bay, Wayzata and Woodland.

US Governmental Initiatives on Foreclosures

Prospective homebuyers in Minneapolis can be glad at three significant initiatives taken by the US government lately with some bearing on their interests regarding the government foreclosures. The first measure is that the new housing bill has provided for the release of an interest-free federal grant of $7,500 to all first-time homebuyers. The second move is that by the next year {2009}, a Nationwide Mortgage Licensing System and Registry is to be compiled. It would become mandatory for all loan officers and loan originators to register themselves with the proposed central depository. This is aimed to screen persons with criminal backgrounds from being active players in the mortgages sphere. The step will doubtless protect the interests of those availing themselves of loans, and serve as a check upon any unfair trade practices.  The third step has been that, concerned at the misery of the millions of home-owners helplessly yielding to the government foreclosures, the government has launched a helpful website guiding property investors on how to avoid situations that might lead to foreclosures. As an interested homebuyer, you might be aided by a keen reading of the suggestions contained in the website.

Finally, to fully utilize the business opportunity offered by the Minneapolis property auctions, you ought to hire the professional services of a real estate agent. Kevin Anderson, Jay Beckstrand, Gale Haisley, Raymond J. Reese and Steve Brunsvold are names of a few prominent dealers in Minneapolis; though there are hundreds of other dealers there as well. Your choice of an agent may greatly determine the end results and ramifications of your investment at the foreclosure auctions.

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