All investors regret not buying during down markets. Too many real estate investors wait until they think values won’t fall any more. Then inevitably they climb back up and they want to turn the clock back.  I hope this foreclosure guide finds you and helps you profit from the depressed properties we all know are out there right now.

When a homeowner misses payments, the mortgage holder will send them a letter called "Notice of Default".  In Oregon, those notices must be recorded with the county like a lien.  Once recorded they are public and the lists of those who have received them are available.  Also research can reveal homes that are upside down on their mortgages.  Homes that have already been foreclosed on are called REOs.  They are usually either sold at auctions or placed on the multiple listings and sold by Realtors.

Buying a property 1. in the foreclosure process. 2. might be foreclosure on or 3. that has been foreclosed on is a highly skilled process.  You must educate yourself properly before attempting to do these transactions.  Again, beware of most of the guru real estate books at the bookstore.  I recommend you read the material by John T. Reed at http://www.johntreed.com/DRET.html.  Also brouse his web site for a wealth of information about real estate investing.