finding foreclosures

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      Yesterday my fiance and I took the day off work and went to the

      courthouse to get our marriage license, and there were a couple of

      guys selling foreclosures on the courthouse steps. Got one guy’s

      business card and he said that the foreclosures were listed on his

      website. He is a real estate lawyer/trustee, not a realtor. All the

      foreclosures are listed on the law firm’s website for free. I don’t

      know how it works, but he said the county sherriff’s office doesn’t

      sell the houses; he is a trustee for foreclosed homes in my county

      (and some other counties, too). I asked him if he has flipped any of

      these houses and he said no because he is not allowed to as a trustee.

      I looked at the law firm’s website last and this morning. All homes

      require a 10% cash deposit. I saw one that only required $9,000 cash

      down, which means that the house is selling for $90,000. That seems

      ridiculously low to me, and unbelievable, when houses in that area

      are going for $500K-$600K. I looked up some of the homes on

      zillow.com to find out what they are really worth.

      I sent the lawyer an e-mail this morning describing my situation and

      what I am interested in. I am asking him if it is really true that I

      can get a house for $100K or under. I don’t know how to go about

      buying foreclosures, I have no idea how it works.

      I am hoping that it’s really true that some houses can go that low.

      But I don’t understand why. Some foreclosures are very high, and

      some are low.

      May I send you a PM? I need to learn more about foreclosures.

      Lisa

      — In Budget101_@yahoogroups.com, “beadedjewelrydesigns”

      wrote:

      >

      > We are eventually wanting to rehab foreclosures. We have already

      done

      > one, however we didnt plan good for it and ran out of money before

      it

      > was completely rehabbed which in turn, left us with the payments on

      it.

      > Next time we will be better prepared.

      > My question is, besides the realtor websites, is there another way

      to

      > find foreclosures for free, without having to sit on the courthouse

      > steps to bid on them.

      > I am in St. Louis, MO.

      > Thanks.

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