Ever heard someone say that foreclosures only occur in poor areas that you’re afraid to go into? Or that trying to work out a deal when a property is in the preforeclosure stage is a waste of time because lenders would rather foreclose than negotiate?

These are myths. The fact is that foreclosures occur in all types of neighborhoods, from modest to opulent. And lenders much prefer to avoid foreclosure, which is expensive and time-consuming, even if it means taking a small loss on the loan to do so.

Read Top 10 Foreclosure Myths to learn the truth about these and other foreclosure myths.

Chief Blogger