Tag Archives: buying

What is the catch to buying a foreclosed home? Are the foreclosure lists legit?

I am interested in buying a home. I have heard that foreclosed homes are sometimes sold below their market value. I have seen lists of foreclosed homes available on the internet. There is usually a fee just to see the list. I have also heard that a buyer is expected to pay all past due taxes on the property up front. What’s the real deal, and is it worth the hassle?

What percentage of people buying a home in America get a mortgage?

I have read a lot about the problems with subprime mortgages recently. Many financial analysts say that subprime mortgages are still a relatively small amount of all mortgages while others say the problem is spreading into prime mortgages as well. I am just curious what percentage of people get a mortgage (all kinds of mortgages both prime and subprime) when they buy a home and what percentage are able to put all cash down (and therefore avoid having to get a mortgage all together).