Newbie question here. I'm new to real estate investing and I would like to invest in preforeclosures. On the foreclosure.com website they have listed under tabs a section for bankruptcies and preforeclosures. Are these two really the same thing or no? Under preforeclosures they have nothing listed but several under bankruptcies. Any help would be greatly appreciated. Thanks
they are very different. bankruptcy is something many people file while in preforeclosure. preforeclosure is any payment missed on a mortgage. it puts you in a status of default. bankruptcy is used during preforeclosure to prevent any liens and fine holders from pursuing you during this bankruptcy period. bankkruptcy also prevents the preforeclosure. it is like a shield around your financial life. the only bad thing is, there is a flood of collector once bankruptcy is out and you willmost likely end up in foreclosure.