Realty World Capital Group 3418 North Ocean Blvd Fort Lauderdale, FL 33308 Business: (954) 962 2723 Toll Free: (866) 962 2723 Fax: (954) 564 1394 Efax:(866) 356 3798 E-Mail: Info@RealtyWorldcapitalgroup.com

For a local list of foreclosed properties and help with buying forclosures please fill out the following form: City 2. Housing Information: Type of home? - Select an Option - Condominium Other Single family Town house Size of home? - Select an Option - 1,000 to 2,000 sq. ft. 2,000 to 3,000 sq. ft. 3,000 to 3,500 sq. ft. over 3500 sq. ft. Bedrooms? - Select an Option - Two bedrooms Three bedrooms Four bedrooms Five bedrooms Bathrooms? - Select an Option - Two bathrooms Three bathrooms Four bathrooms When to purchase? - Select an Option - Immediately Undecided Within 1 year Within 2 months Within 6 months Prequalified by lender? - Select an Option - No Yes More information on financing? - Select an Option - No Yes What area are you most interested in? Please give me some specific ideas about what you're looking for: (Please type in your remarks or questions below) Please tell me how to get in touch with you: (Type in your contact information below) 3. Contact Information: Your name: Your e-mail address: Your phone number: When should I contact you? - Select an Option - Please call daytime Please call eveningtime What would be the best time(s) to reach you? State: Zip: Any extra comments, or specifics you would like to add: Enter the code in the field below: Refresh

Understanding Foreclosures
It is an unfortunate commentary, but when economic activity declines and housing activity decreases more real property enters the foreclosure process. High interest rates and creative financing arrangements also are contributing factors.
When prices are rapidly accelerating during a real estate "bonanza", many people go to any lengths available to get into the market through investments in vacation homes, rental housing and "trading up" to more expensive properties. In some cases, this results in the taking on of high interest rate payments and second, and even third mortgages. Many buyers anticipate that interest rates will drop and home prices will continue to escalate. Neither may occur, and borrowers may be faced with large "balloon" payments becoming due. When payments cannot be met, the foreclosure process looms on the horizon.

In the foreclosure process, one thing should be kept in mind: as a general rule, a lender would rather receive payments than receive a home due to a foreclosure. Lenders are not in the business of selling real estate and will often try to accommodate property owners who are having payment problems. The best plan is to contact the lender before payment problems arise. If monthly payments are too hefty, it may be that a lender will be able to make some alternative payment arrangements until the owner's financial situation improves.

Let's say, however, that a property owner has missed payments and has not made any alternate arrangements with the lender. In this case, the lender may decide to begin the foreclosure process. Under such circumstances, the lender, whether a bank, savings and loan or private party, will file a motion with the courts. A copy of the motion is mailed to the property owner.

If the default is due to a balloon payment not being made when due, the lender can require full payment on the entire outstanding loan as the only way to cure the default. If the default is not cured, the lender may direct the court appointed commissioner to sell the property at a public auction.

In cases of a public auction, a notice of sale must be published in a local newspaper for three consecutive weeks. It may still be possible for the property owner to work out a postponement on the sale with the lender. However, if no postponement is reached, the property goes "on the block". At the sale, buyers must pay the amount of their bid in cash, cashier's check or other instrument acceptable to the commissioner. A lender may "credit bid" up to the amount of the obligation being foreclosed upon.

With the recent attention given to foreclosure, there also has been corresponding interest in buying foreclosed properties. However, caveat emptor: buyer beware. A buyer should do his homework.