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Once you have found a reputable foreclosure attorney, they will usually suggest options available to you.Government Foreclosure Homes: Diamond In The Rough?Sometimes it is a splashy late night television advertisement, or junk mail delivered to your home, or emails filling up your inbox; all promising fabulous homes for paltry pennies through real estate auctions.Both of those solutions will save the owner's credit rating." This cannot always be applied to government foreclosure homes.Generally, when a borrower defaults on a loan, the home itself defaults back to the keeper of the loan, be it a bank or a mortgage company.For this reason, the foreclosure service will either buy the home or recommend selling the home at a price lower than market value.Before you start sweating bullets over that one missed payment, Uncle Sam's lofty all-seeing eye will not be too fixated until you have been delinquent for a few years or more.Ownership of the foreclosed property is awarded to the highest bidder.An agent may be employed to show the property and accept an offer.It is sad that, for some the dream does not always have a very long shelf life.Included in these payments are added costs to the principal payments that reflect the interest paid to the lending institution for the use of their money. Communicating with the lender will send a strong message in that you understand your responsibility and will do your utmost to meet that responsibility.If the borrower has a good reason for not paying the loan back on time, he may contact the lender and make new arrangements if both can agree on the terms.If the Bank of America foreclosure property is owned by the bank, the property can be sold as any other property.In the event of a borrowing homeowner defaulting, the lending organizations
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Casey Konstantin Serin (born September 10, 1982 in Tashkent, Uzbekistan) is a former real estate speculator and blogger. In a newspaper article, USA Today called him the "poster child for everything that went wrong in the real estate boom". Serin immigrated to America in 1994. In his early twenties, Serin worked as a web developer, but then decided to quit this job to pursue his dream of becoming financially independent through real estate investments. Beginning in October 2005 and continuing through the following year, Serin purchased eight houses in four southwest U.S. states, and then began blogging about the foreclosure process on the properties he was unable to resell. In time, six of the eight properties foreclosed.
He flew to Australia in June of 2007 for several weeks, leaving his wife with little or no financial support
As for his real estate investments, Serin acknowledged to the Sydney Morning Herald that "the stuff I did is technically mortgage fraud, but it's not officially called that until someone prosecutes me and proves that that is indeed mortgage fraud," asserting a presumption of innocence. On the Jon Ronson show, Serin confirmed his use of so-called "liar loans". On July 11, 2007, Serin disclosed that he was under investigation by the FBI.. In an interview conducted by ABC News, his attorney reported that Casey Serin is under investigation by the FBI, but "no charges have been brought against Mr. Serin. However, based upon conversations with the U.S. attorney's office in California, federal charges related to Mr. Serin's real estate transactions are expected to be brought against him" .
After staying offline for a few months, Casey Serin has resurfaced as a partner of Damion Lupo (author of Maverick Mistakes in Real Estate ) on ForeclosureHelpBook.com. This partnership dissolved in October 2007. Casey resurfaced with a new blog, EscapeMyHouse.com, which was taken offline in November 2007. He most recently (January 29, 2008) started and then stopped a blog based on his information on gold stocks, most specifically GoldSpring (GSPG) called MillionaireByChristmas.com. This site has gone thru numerous edits, some within minutes.
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