Real Estate has been a source of investment for the intelligent investor. Although it has gone through many ups and downs in the past still the options are galore considering the number of investors putting their might and money behind this sector. There are so many options while investing in real estate one can purchase land and construct property on it and sell it once the value has appreciated or one can go in for a constructed property that is being disposed off by the owner for one or the other reason and can be sold once the demand increases in the market.

There has been a sudden upward swing in the number of foreclosed homes in the recent past as people are finding it difficult to repay the mortgage EMI's due to a bad economy. Banks have been flooded with immovable assets which pose a financial threat to these financial institutes as the homes will not paying any interest and will act as a bad debt on their accounts. Thus for a smart real estate investor these foreclosure homes provide a really nice source of investment. Not only for the real estate investor can these homes be good bet for someone looking forward to buy a home to settle down.

According to Certified Forensic Loan Auditor Andrew Lehman one needs to be quite careful while proceeding with these kinds of properties. As Banks who hold the keys to such homes will surely have an eye on your credit score and the past financial transactions you have had in the past. As the financial institution will not really like the idea of giving the home to someone who will return it back to them after a couple of months. Further CFLA Andrew Lehman advises people to stay away from homes that are under foreclosure who need a home really quick as getting possession of these homes will be quite a lengthy task given the paperwork will be a lengthy process.

Given the present scenario one has to be very careful while taking up a property that is undergoing foreclosure as one will have to be sure about the neighborhood and the job prospects in that neighborhood. Banks will not prefer individual customers to deal directly with them its best you to get in contact with a real estate agent to buy a foreclosed home.

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