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How to Identify Distressed Properties October 1, 2007

Filed under: Financial Difficulties — Matthew Guise @ 8:06 pm
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Distressed properties are recognized by some kind of problem. These problems generally reside with two aspects of the property i.e., either the property itself or the owner. The problem can be simple, like a high vacancy rate of an apartment complex, or something much larger like the possibility of a property going into foreclosure because the owner cannot make the mortgage payments on time. This can eventually damage a person’s credit if a property is to go into foreclosure.

How do you identify distressed properties? One way is to drive around your community looking for buildings that look vacant, run down, not fully leased, and those that display for sale by owner or FSBO signs. If a property looks like a sore thumb in a nice area, then that is a flag that there might be something wrong. You can go to the county, find out who owns these buildings and send out a letter campaign telling them you wish to purchase the property. Many deals can develop this way, and you can get great prices on properties you didn’t even know would be for sale.

Another way to find distressed properties is to call brokers on listings you find on the internet and simply ask why the owner is selling. You may have to call on quite a few properties, but eventually you will find that gold mine property being offered way below the market rate. With just a few changes that distressed property may be a money generating machine once more! You can even call on brokers to locate and bring you properties with problems that fit your targeted criteria. This strategy of finding distressed properties is a great one, as you can very quickly cut through the many listings that do not fit your criteria.

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Debt Management Advice September 28, 2007

People got caught in debt for many reasons. Most common reasons are buying homes, marriages, financing education, vacations, etc. If you have taken out a loan for these purposes, chances are that there are a number of loan and debts that you have to service every month.

If your monthly debts installments are crossing your monthly salary then it is the time to consider the debt management advice. Borrower must get debt management advice from the experts that deal with debt management.

In the absence of any security to back the debt loan, you are faced with higher monthly expenses and unfavorable payment terms. A consolidation debt loan mortgage converts and consolidates all your existing obligations into one loan backed by mortgage having low interest outflow.

If the borrower’s debts are large and amount payable is too large then he is advised to choose for the option of debt consolidation. In debt consolidation, borrowers high rated several debts are consolidated at lower interest rate with feasible repaying option.

With the advent of internet anything can be obtained just with the click of the mouse. And a few of those provide with free online debt consolidation too. Whether one wants to search for a home or loans at affordable rates, vehicles, groceries or educational stuff, every thing can be bought while you are in the comfort of your chair. These days online approach is becoming popular for consolidation loans as approaching each lender individually is eliminated and a comparative study of the rates of interest makes it handy to make a proper choice and come down to an appropriate decision.

Debt consolidation is not good only for people who are unable to pay off all their loans but also for people who are able to pay their debts. For such people debt consolidation makes their debts more manageable and organized.