Real Estate Wiki Incorporates Foreclosure Information

One Percent of U.S. Homeowners Entangled in Foreclosure

Real Estate Wiki, the leading free online encyclopedia in the real estate industry, this week announced that it has added significant new copy addressing foreclosure, pre-foreclosures, short sales, auction and bank owned properties.

According to a spokesperson for Real Estate Wiki, foreclosures are of major concern for many Americans at this time. For example, in March one in every 538 households in the U.S. received a foreclosure notice with Nevada (1 in 139 homes) leading the pack, followed by California (1 in 204 homes), Florida (1 in 282 homes) and Arizona (1 in 283 homes).

To assist homeowners Real Estate Wiki added some 25 Frequently Asked Questions (FAQs) covering questions such as:

  •     Can I Negotiate the Price of a Bank Owned Property?
  •     What Can I Do To Avoid A Foreclosure?
  •     How Do I Negotiate With The Lender To Avoid Foreclosure?
  •     How Does A Foreclosure Work?
  •     What Happens To The Mortgage Loan After A Foreclosure?
  •     What is a Better Option Foreclosure or a Short Sale?

In addition, over 30 definitions have been added to the Glossary of Terms providing explanations for concepts such as Foreclosure, Judicial Foreclosure, Strict Foreclosure, Deed-In-Lieu of Foreclosure, Decree of Foreclosure, Right of Redemption, etc.

Various key organizations that provide information and assistance to home sellers before and during the foreclosure process are also featured in the Wiki: The U.S. Department of Housing and Urban Development, First American CoreLogic, Experian, Equifax and RealtyTrac.

Real Estate Wiki is powered by a group of dedicated real estate professionals that offer up of their time and expertise to provide quality and relevant information in one central place; http://www.RealEstateWiki.com. Using this great resource is 100% free and anyone can add, change or improve any of the over 13,000 existing entries covering a wide range of residential real estate matters in over 70 categories.

Make a difference and help build a better industry by becoming involved with Real Estate Wiki. To contribute towards improving this national free real estate encyclopedia visit Real Estate Wiki (http://www.RealEstateWiki.com) today or contact Gatekeeper @ RealEstateWiki.com

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Posted On: April 24, 2008

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