Foreclosure Alert - Is the LEARN the Way to EARN Method Successful - Review of One of NRU's Courses

Few colleges offer an educational class that is designed for both the novice and the seasoned investor. Nouveau Riche offers many courses to help develop the real estate investing community.

Through this education NRU students are able to assist homeowners who may find themselves in a difficult situation such as foreclosure. By the time they have reached out for help it's too late. Real estate owned or REO is a class of property owned by a bank, after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. Most foreclosure auctions have starting bids that equal the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees.

After an unsuccessful auction, a bank will try to sell the property on its own by removing the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

The level 200 course offered by NRU provides a practical how-to guide of acquiring foreclosed properties through two methods: auction and bank REOs. The class emphasis is on demystifying the common misconceptions about purchasing properties through either of these methods. Students receive an overview of the foreclosure process and gain an understanding of the preparations required prior to bidding at auction. How to become a strong participant in the auction process as well as how to find and approach banks to acquire REOs will be covered.

Education only makes a stronger.

By Paul Resurreccion

Paul Resurreccion is a life-long learner and student of online education.

To learn more about online educational opportunities designed at building wealth check out my website:

http://www.thenewrichdad.com

Thanks!

Paul Resurreccion - Managing Director, Resorxn Enterprises

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