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Money Rehab with Nicole Lapin

Foreclosed Homes: Opportunity or Nightmare?

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.41.4K Ratings

🗓️ 2 February 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Nicole breaks down everything you need to know about buying a foreclosed home; like, whether it's a good move for you, how to find the best opportunities, and how to beat competing offers. As promised, here are the goods: https://homepath.fanniemae.com/ https://www.homesteps.com/ https://www.rockethomes.com/ https://www.hud.gov/topics/homes_for_sale Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Have you ever been caught out by payments you've forgotten about?

0:03.2

Join over 2.5 million customers who are already using the Lloyd's Bank Upcoming Payments tool on our app.

0:09.8

It gives you early sight of regular payments that are due to leave your account in the next 31 days

0:15.8

to avoid any surprises.

0:17.8

It's just one of our many useful tools that can help you stay on top of your money.

0:22.4

To find out more, go to Lloyd'sbank.com forward slash cost of living.

0:27.0

Lloyd's Bank, by your side.

0:32.0

I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

0:37.0

It's time for some money rehab.

0:45.6

The housing market is a tough one.

0:47.6

This is not breaking news.

0:49.0

There is a limited amount of inventory, mortgage rates are peaking and housing prices.

0:55.0

Have states stubbornly high.

0:56.6

However, if you've got a little time, a little savvy, and some cash on hand,

1:02.2

there's a trick that could save you money on a house by the end of the year.

1:06.8

This trick will vibe with those who like hunting for special finds at thrift stores

1:11.6

and buying used fixed-repper cars.

1:14.8

The rest of you can use it too, of course, but it really works best if you love a deal and enjoy a challenge.

1:22.2

I'm of course talking about foreclosed homes.

1:24.6

Properties that mortgage lenders have reclaimed because the buyer was no longer able to make mortgage payments.

1:30.6

During the pandemic, there was a moratorium on home foreclosures, because, you know, it was a pandemic.

1:36.2

But when those restrictions on foreclosures ended, many speculated that the market would be flooded by foreclosures.

...

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