James York, a Sacramento investor has filed a lawsuit against the Calif. congresswomen and her bank for using influence to force Washington Mutual Inc to back out the sale of the foreclosed home that York bought from Rep. Laura Richardson.
York bought the foreclosed home at an auction after Richardson failed to make her mortgage payments.
There are different types of real estate investments and one of the best investments is in foreclosed homes. These foreclosures are mostly residential properties that can have anywhere from one to four units. Mortgage is provided by FHA but if a home fails in making mortgage payments then the homes are repossessed by HUD. There has been a steady rise in the number of HUD homes available and this is good news for any investor as well as a first time homebuyer. HUD foreclosed homes are never sold off immediately because HUD always offers them first to various non-profit organizations at almost 50% discount.
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Zipcode: 95603 Bthrm: 2 Bdrm: 2 County: Placer City: Auburn, CA $207,100.00 |
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Zipcode: 89145 Bthrm: 2 Bdrm: 3 County: Clark City: Las Vegas, NV $311,900.00 |
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Zipcode: 33308 Bthrm: 2 Bdrm: 3 County: Broward City: Fort Lauderdale, FL $199,400.00 |
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HUD Fair Housing Equal Opportunity
