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fore·clo·sure (fôr-klō'zhər)	BACK TO RESOURCES
The act of foreclosing, especially a legal proceeding by which a mortgage is foreclosed. The legal process by which an owner’s right to a property is terminated, usually due to default.
Are you in the market to buy a foreclosure in Wasatch or Summit County UT?
Call Cameron toll free at (888)654-5494. We maintain a list of all foreclosure and preforeclosure properties in Utah, including Wasatch and Summit County. We specialize in foreclosures and preforeclosures in Heber, Midway, Park City, Kamas, Francis, Woodland, Oakley. We know our market and we believe we know if these properties represent an attractive value. We are certain that some of the current foreclosures listed for sale are absolutely not worth considering. Others we feel are worth pursuing. If you would like a list of distressed properties, including our top picks, email or call us today at (888)654-5494. FORECLOSURE MYTHS 1. It's a foreclosure, therefore it must be a good deal. Wrong. If you are a cash Buyer, have done thorough research on the local market and complete due diligence on the property itself, you may be getting the property at a huge discount. Understand, Owner's are more likely walk away from a property because they have no equity in it, or there are judgements, structural issues or title issues they have been unable resolve. 2. I can win the highest bid at the public foreclosure auction and then apply for a mortgage to pay for it. Wrong. You will need to be a cash Buyer at the foreclosure sale. Once you own it, then you can refinance it. If the property does not sell at auction, it is more likely that you can finance it once the property is listed for sale. There is no question that buying a foreclosure can be a lucrative investment...especially if you know what you are doing and understand the process. If you don't, you can quite often find yourself in a far worse position than where you started. There are three typical ways a Buyer usually purchases a distressed property in Utah 1. Preforeclosure This is the period that an Owner is usually deliquent on their mortgage payments and the Lender has filed a Notice of Default with intent to sell. Once the notice of default is filed with the County, the clocks starts ticking on the foreclosure sale process. In Utah, this is approximately 120 days +/-. The Owner must come current on their payments or risk losing the property in foreclosure. This is also the best time to negotiate a possible Short Sale with the lender. 2. The foreclosure sale. This is typically an advertised public auction sale coordinated by the Trustee on behalf of the lender. The Buyer will need to pay cash and make a non refundable deposit the day of the sale. They will also need to do all of their due diligence ahead of time. 3. Post foreclosure sale An advertised foreclosure is typically listed with a Real Estate Broker or available through the Lender's REO department. This means the property did not sell at the public foreclosure sale. These properties are usually sold "AS IS" with the right to inspection and a typical escrow period of 21-45 days.

fore·clo·sure (fôr-klō'zhər)

Are you in the market to buy a foreclosure in Wasatch or Summit County UT?