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| Table of Sample Forms, Illustrations, and Checklists | |
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| Preface | |
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| Acknowledgments | |
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| Introduction | |
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| Understanding Foreclosures | |
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| An Overview of the Legal Procedure in Foreclosure Actions | |
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| Mortgages and Deeds of Trust | |
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| Judicial and Nonjudicial Foreclosures | |
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| Finding the Foreclosure Statute in Your State | |
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| The Soldier's and Sailor's Civil Relief Act of 1940 | |
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| The Three Opportunities for Purchasing Foreclosures | |
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| The Basics of Buying Foreclosures at the Auction | |
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| A Day at the Auction | |
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| Warning: Peculiar Purchase Ahead | |
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| Finding Upcoming Foreclosure Auctions | |
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| The Basics of Buying Foreclosures after the Auction-from Banks | |
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| Defining Bank-Owned Properties | |
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| Redefining Bank-Owned Properties | |
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| A Lender's View of Bank-Owned Property | |
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| An REO Purchase versus a Bank Auction Purchase | |
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| Finding REOs | |
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| Preparing Your Offer | |
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| Negotiating Strategies That Help You Cut through the Red Tape | |
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| The Basics of Buying Foreclosures after the Auction-from Federal, State, and Local Government Agencies | |
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| Defining Government-Owned Property | |
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| Finding Government-Owned Foreclosures | |
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| The Basics of Buying Foreclosures before the Auction | |
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| Understanding the Defaulting Owners | |
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| How You Can Help | |
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| Negotiating with Defaulting Owners-When the Property Has Equity | |
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| Negotiating with Defaulting Owners-When There Is Negative Equity (a.k.a. "Short Sales") | |
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| Steps in a Short Sale | |
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| Finding "Pre-Auction" Foreclosures | |
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| Contacting Defaulting Owners | |
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| Additional Strategies and Tips for Buying Pre-Auction Foreclosures | |
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| Buyers Beware: Has Your State Adopted a Home Equity Theft Prevention Act? | |
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| Clarifying Government "Acts" of Kindness | |
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| Financing Foreclosures with Traditional Real Estate Loans | |
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| Riddle for Buyers | |
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| Calculating Your Foreclosure Budget | |
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| The Burden of Proof | |
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| Decisions, Decisions | |
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| Types of Loans | |
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| Comparison Shopping for the Best Lender | |
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| Key Questions to Aska a Lender | |
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| Creative Strategies for Financing Foreclosures | |
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| Foreclosure Purchasers with Limited Cash and Good Credit | |
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| Foreclosure Purchasers with Limited Cash and Tarnished Credit | |
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| Foreclosure Purchasers with a Lot of Cash and Good Credit | |
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| Foreclosure Purchasers with a Lot of Cash and Tarnished Credit | |
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| Equity Sharing: Buying Foreclosures with a Partner | |
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| How It Works | |
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| Why It Works | |
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| The Owner-Occupant's Goals and Challenges | |
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| The Investor's Goals and Challenges | |
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| Comparing Purchase Details and Finance Costs | |
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| Equity Sharing to the Rescue | |
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| Contract Terms to Agree Upon | |
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| The Risks Involved in Equity Sharing | |
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| Equity Sharing for Parents and Children | |
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| Equity Sharing for an Investor and a Contractor | |
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| Finding a Partner for Equity Sharing | |
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| Equity Sharing Helps People Achieve Their Goals | |
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| Choosing the Right Property: What You Don't Know Can Hurt You | |
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| Finding the Right Property | |
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| Asking the Right Questions | |
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| Organizing Yourself | |
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| Inspecting the File of the Foreclosure Action | |
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| Hiring a Title Expert | |
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| Asking for the Terms of Sale before Bidding on Foreclosures at Auctions | |
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| Uncovering Hidden Costs | |
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| Establishing Property Values | |
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| Calculating Cash Flow | |
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| Preparing Your Bid Sheet | |
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| Organizing Your Prebid Calculations | |
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| Fine Tuning Your Prebid Calculations | |
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| Final Confirmation | |
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| Congratulations! You Are the Successful High Bidder | |
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| When You Are the High Bidder at the Auction | |
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| When Your Offer for a Bank- or Government-Owned REO Foreclosure Is Accepted | |
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| When Your Offer to the Defaulting Borrower for a Preforeclosure Is Accepted | |
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| Coast to the Closing with These Five Standard Operating Procedures | |
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| Applying the Five Standard Operating Procedures to Your Particular Circumstances | |
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| An After-Contract Checklist | |
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| Now that You Own the Property | |
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| Steps to Take for Completing the Transaction | |
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| An After-Closing Checklist | |
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| Making Repairs to Your Foreclosure | |
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| Pinpointing Priorities | |
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| Finding a Contractor | |
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| Implementing a Competitive Bidding System | |
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| Implementing a Performance-Based Payment Plan | |
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| The Big Picture | |
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| Getting Started Today | |
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| Follow These Six Steps for Success in Purchasing Foreclosures | |
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| From Rags to Riches with Real Estate Foreclosures | |
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| Glossary | |
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| Index | |