There are four stages of foreclosure. they are pre foreclosure stage, the auction stage, the redemption period stage and the post foreclosure stage. This article will address the post foreclosure stage.

In this stage the period of time after the redemption period has expired and the homeowners rights have been completely terminated.

As in the previous three stages there are certain steps to follow.

1. Find properties that have had the redemption period expire.

2. Analyze the information to determine if there is a possibility of profit.

3. Contact the Lender or Real estate Agent for the property.

4. Inspect the property.

5. Re-analyze based on your inspection.

6. Present offer.

7. Arrange new financing

8. Close the sale.

9. Make necessary repairs for sale.

10. Market and sell the property.

This type of property is commonly referred to as real estate owned or REO.When this happens the to the Lender it becomes a nonperforming asset. These institutions are in the business of loaning money and not owning property. You may understand a little more why banks charge a higher rate of interest to those with a poor credit score.

Most lending institutions don't advertise that they have real estate that has been taken back. They will, however, share this information with anyone who asks for it. As you may imagine their primary objective is to dispose of the property and at the very least get back their original investment. At times they will receive everything owed to them plus all related fees. At the rate that foreclosures are rising this doesn't happen too frequently now. They also know that the sooner that they move a property the lower carrying costs are a plus.

Some banks are hard headed in this regard and want full price for their property. Try to reason with them and if you can't change their mind move on to another property. There are lots to chose from!

The post foreclosure market is enticing because you know for a fact that title issues normally have been resolved. There are web based subscription services that have updated lists of foreclosures available on a weekly basis.

This is your opportunity to buy at wholesale prices and sell at retail prices.

This is only a general outline of the required steps. Research further information.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

What You Should Know About Foreclosure Property Auctions
Are you looking to invest in real estate? If you are, there is a good chance that your prime targets would be those that are considered foreclosure properties. A property goes into foreclosure when the owner is unable to make their mortgage payments. The mortgage then reverts back to the lender and ... more...

Stop Foreclosure
The term foreclosure refers to the circumstances, which arise due to the nonpayment of loan to the lender. When the borrower failed to pay back the money borrowed to the lender, then the lender will transfer the ownership of house property to him. The foreclosure arises when the owner of the ... more...

Foreclosure Problems? Get Help
When a person becomes late on their monthly house payment, eventually the lender will begin foreclosure proceedings which in most cases will start with a notice of default or a lis pendens recorded with the county where the property is located. There are data companies that collect this information ... more...

Master The Mechanics Of Foreclosure - The Key To Being Effective In Pre-Foreclosure Investing
To confidently compete in the pre-foreclosure arena, every investor must master the mechanics of foreclosure. The events of foreclosure, the timeframes, the disposition of the proceeds of sale, and the effects of the sale ? these are all important landmarks in navigating through the foreclosure ... more...