New York, NY (1888PressRelease)
August 26, 2006 - American Foreclosures, Inc, a leading provider of pre-foreclosure and foreclosure information is reporting significant increases in the number of lis pendens (pre-foreclosures) filed in New York and New Jersey for the 2nd consecutive quarter. “What was very recently only a southern and western US problem, has now migrated north and east and landed here in our own backyard,” says Cynthia Ehrlich, Vice President of American Foreclosures, Inc. “Many more homeowners in this area are quietly falling behind on their mortgage payments, and lenders are coming up short with solutions,” she says.
Although delinquencies are rising, and banks are looking at swelling REO (real estate owned) portfolios, knowledgeable real estate investors, familiar with this sector of the industry, are seizing opportunities for substantial discounts.
“Banks are willing to negotiate; plain and simple,” says Ehrlich. “Lenders are not in a position to continuously lose money on defaulted loans. Educated real estate investors can capitalize on this.”
Learning about the foreclosure industry is an investor’s first step. Next, it’s a matter of knowing where to find the good deals. American Foreclosures, Inc periodically conducts training seminars for aspiring foreclosure investors. This Fall, five events are scheduled for the New York Metropolitan area. Topics covered include short sales, subject to, lease options and negotiating with lenders. The company, which publishes foreclosure information in magazine format and on the World Wide Web, also conducts seminars for real estate professionals.
American Foreclosures, Inc (established in 1992), publishes American Foreclosures & Auctions monthly magazine and the daily updated websites www.Americanforeclosures.com, www.NJLisPendens.com, and www.NYLisPendens.com. To learn more about our products, or to register for an upcoming event, please visit any of our websites or call (800) 758-1236.
For additional information, please contact Mitch Kassel at (201) 501-0200 ext. 814 or email mkassel ( @ ) americanforeclosures dot com.
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