Welcome to Purchasing Real Estate Foreclosures!
We encourage you to browse this website for the most relevant and useful mortgage information as it pertains to the purchase of foreclosed and investment property. In case the desired information cannot be found on this website, please use the special search box below for additional mortgage information from other web locations. Simply enter your mortgage search term/keyword(s) and get results immediately without having to move from your present location. Save valuable time!
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Introduction To The Transaction
Real Estate Financing for commercial properties has not been as hard hit by the mortgage crises as the residential properties section, but there is no doubt that a decline in lending activity was also evident in the decreased commercial mortgage applications.
The ‘bursting of the bubble’ will continue to have an impact on the mortgage industry going forward, but based upon everything we know today as a result, it is paramount that lenders, mortgage bankers, mortgage brokers, real estate agencies and other industry professionals get back to the 'tried and true' principles of the fiduciary responsibility described in Article 12A of real estate licensing laws.
Putting the best interest of the customer and client first and foremost must be the starting point from which we set out to turn this industry around, because similar to any structure which needs a foundation upon which to stand firm and strong in the space it occupies, millions of mortgagor homeowners must be the strong foundation upon which the real estate and mortgage industry stands firm and strong.
The commercial mortgage business is not very different in terms of needing a strong foundation but the differences that exist are the very features that helped to insulate commercial lenders and investors from some of the uncertainties faced by their residential counterparts.
The emphasis is placed primarily on net income which is generated from the collateral property instead of income from the individual or entity that makes the application, so should that individual experience loss of personal income the debt service (mortgage payment) may not be affected in the same manner as in the case of the residential mortgagor, if at all.
The fact remains however, that commercial properties are foreclosed upon and when they become available for sale, the prospective purchaser/investor needs to be prepared to make the purchases under the most favorable conditions. The more knowledge and practical information a purchaser/investor is equipped with the better of a deal he or she will make when purchasing a commercial foreclosure.
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