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Foreclosure investment
Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property.
In real estate, foreclosure is the termination of the () of redemption of a mortgagor or the grantee in the property covered by the mortgage.〔Equity of redemption is the right of an owner to redeem property securing a loan that has been accelerated prior to foreclosure〕 Depending on the type of foreclosure proceeding, the sale may be administered by the courts (judicial foreclosure) or by an appointed trustee (statutory foreclosure). Proceeds from the sale are used to satisfy the claims of the mortgagee primarily, with any excess going to the mortgagor. Anyone may bid on properties sold at a foreclosure sale. As a practical matter, however, most properties are acquired by the lender, often for the amount owed on the foreclosed loan.
When interest rates rise, home owners with variable interest rates often become over-extended, providing opportunities for foreclosure investment professionals to obtain investment properties at depressed prices.〔A variable interest rate is an amount of compensation to a lender that is allowed to vary over the maturity of a loan. The amount of variation is generally governed by an appropriate index.〕 The most common reason for foreclosure is dissolution of a marriage. The next most common reason is a failed business venture.〔Theodore J. Dallow, ''How to Buy Foreclosed Real Estate'', Adams Media Corporation. 2000.〕 Foreclosure investing can provide favorable returns; in fact, foreclosed homes accounted for 39% of home sales in the United States in February 2011, most to investors. For someone who likes the idea of adding a little sweat equity to their investing, buying rental properties is an excellent way to build a nest egg while putting in the extra work that can make realizing a return on investment all the more enjoyable.Another way to use real estate for investing is by getting involved with ETFs and REITs. Those provide a more passive investment, where you simply invest your money and the companies or traders own and manage the properties. The return might be lower than if you did the work yourself, but REITs offer a lower risk, lower pressure way of getting into the real estate market.
==Stages of foreclosure==
The foreclosure process begins when a financially distressed homeowner fails to make a loan payment and is served with a summons from his or her creditors. After service, papers will be filed with the county clerk's office and be made a matter of public record (in some areas the place where deeds and mortgages are registered may go by a different name, such as the office of the land registrar). This notice is usually known as ''Lis Pendens'', which is Latin for "pending legal action". At this point, any attempts by the homeowner to borrow from public credit sources will be met with a negative response. On completion of the publication process, the foreclosure action will be permitted to proceed and the owners have a limited amount of time to pay up, sell, or make other deals with creditors. If none of these actions are taken, a foreclosure sale will take place. If no one bids the amount owed, the property reverts to the lender and becomes a real estate owned property held in inventory by the lender. Experienced foreclosure investors may work in all of these various stages, but the possibility of making a transaction with the homeowner is no longer possible after the property is an REO.〔George Achenback, ''Foreclosure Properties'', 4th Ed. John Wiley & Sons, Inc. 1999〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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