BANK
SEIZED REAL ESTATE - ALL 50 STATES
Between
1980 and 2004 the rate of residential house foreclosures in the United
States has increased by 384%. That means that even though
interest mortgage rates were over twice as high in 1980 as they are
in 2004, almost four times the number of houses are being foreclosed
upon in 2004 as in 1980.
It is
significant that foreclosures have increased by almost four times
since 1980, and that in the past 12 months over 500,000 houses
were foreclosed on in the United States.
The banks
and courts are overloaded with abandoned properties, foreclosed mortgages,
seized houses, forfeited apartment buildings, shopping centers, strip
malls, movie theaters, and raw land that can be obtained very cheaply
by bidders who are ready to take over the Forfeited Properties either
for their own use or for resale to the general public.
The
banks, courts, and the US Government are not interested in owning
real estate. They do not want to maintain, upkeep, or use the houses,
buildings, raw land and other property seized from or forfeited by
delinquent debtors, so by law they must dispose of the real estate
and property at auction, with bidders often paying a frs of the
actual market value of the property, and taking title immediately.
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