Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties

In Foreclosure Myths, Ralph Roberts and Certified Mortgage Consultant Chip Cummings debunk seventy-seven persistent myths that prevent would-be homeowners and real estate investors from taking advantage of the tremendous profit to be had in foreclosures. Through the process of revealing the truth about the most persistent foreclosure myths, Roberts and Cummings show you how to find, evaluate, and buy foreclosure properties at a discount—including how you can use other people’s money to finance your investments. In addition, the book features quotes and firsthand stories from top industry professionals and handy resources like national and state foreclosure guidelines, sample forms, checklists, and all the other tools everyday investors need to earn a profit buying, fixing up, and selling or renting out foreclosure properties—or simply making the property their new home.

Learn why these and other myths aren’t true at all:

• There’s nothing an investor can do to assist distressed homeowners

• Only insiders can find good foreclosure properties

• You need a lot of money to start investing

• Only experts can understand the foreclosure process

• Every foreclosure property is a moneymaking deal

• Real estate agents always get the good deals at auction

• Foreclosed properties are always in terrible shape

• You can only sell a foreclosure home after extensive renovations

Ralph R. Roberts is a real estate investor and an award-winning speaker and author whose other books include Foreclosure Investing For Dummies, Foreclosure Self-Defense For Dummies, and Walk Like a Giant, Sell Like a Madman, all from Wiley. For more information, visit www.AboutRalph.com.

Chip Cummings has spent twenty-five years in real estate finance, with more than $1 billion in loans as a broker, banker, and president of several mortgage companies. He has helped thousands of homeowners obtain their own homes and investment properties, is a certified trainer for the National Association of Mortgage Brokers, and is a former president of the Michigan Mortgage Brokers Association. His other books include Mortgage Myths, from Wiley. For more information, visit www.ChipCummings.com.