Industry News

Real estate foreclosure alternative debuts aims to connect homeowners, investors

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A new Web site, aims to connect homeowners seeking a quick sale with investors who want a good deal on a home. allows homeowners to market their homes to real estate investors in their state, and allows them to review and select offers. "While investors typically expect a discount (10 percent to 50 percent of retail value) in many cases, this is better then the alternative of losing the house or spending huge amounts of time fixing and selling it," according to an announcement by Homeowners facing foreclosure, late payments, divorce, double house payments, major repairs or other issues are potential customers for the Web site. There are no closing costs or fees associated with transactions, and homes can be purchased in five days, in some cases. Homeowners wishing to contact investors affiliated with can visit; investors wishing to join the program may inquire at http:/...