Article #5 from Foreclosure Articles
by David Whisnant Editor, Real Estate Investor, and Attorney

Foreclosures:

Why You Need To Learn The Foreclosure Game From An Attorney


As a licensed real estate and foreclosure attorney, I have seen more than my share of foreclosures. I have sold foreclosure properties on the courthouse steps representing lenders, and I know the law.

Many real estate foreclosure courses gloss over the critical fact that foreclosures are not done the same way in all states. For example, in some states, foreclosures are basically a lawsuit. The lender sues the borrower to foreclose on their home. This is called judicial foreclosure. Judicial foreclosures are typically long drawn out affairs.

In other states, called power of sale states, the lender doesn’t have to file a foreclosure suit. They only have to give legal notice of their intent to foreclose. In power of sale states, foreclosures happen very quickly.

There are other hybrid systems that take a bit from both.

Because the foreclosure timeline is so different depending on what type of state you are in, the strategies to buy foreclosures in these different types of states are very different. I teach how to attack foreclosures in a custom tailored way for multiple types of jurisdictions so that you will have valid techniques wherever you are.

As part of making sure that I am providing the finest materials available to you, I constantly purchase the material on foreclosures that other real estate gurus offer. This is an expensive but necessary part of running this aspect of my foreclosure business.

I am blown away by how many big name foreclosure investors teach foreclosures as if there is only one type of foreclosure procedure in this country.

Studying with an attorney like myself gives you the benefit of learning from someone who has dedicated some serious time to studying the different types of foreclosures in law school and while practicing as a real estate attorney.

Many of you may know first hand how the


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