Wanna Buy a Countrywide Foreclosed Property for $1 ???

I owe this to Floyd Norris of the New York Times.

Everyone hears that the market's bad, right? Well....try this...

What would you do if you could buy a house for $1? If that sounds crazy, how about 50 houses for under $1,000? Dead serious here, folks. Try Countrywide's REO (Bank Owned Properties) in Detroit, Michigan. There's six houses in Detroit for $1. Here one address: 19200 RUNYON ,DETROIT , MI 48234. Oh, and if you call: 888-622-7361, you'll want to talk to "MCB Michigan". Apparently, there's so many foreclosures in Michigan that they've been assigned to a team instead of a live person.

But, for those of you with more realistic goals, try a Kirkland, WA house going for 379K that zillows at 445K? That's not too bad, but if you offered 350K, I bet Countrywide would go for that!

This simply goes to show; banks hate foreclosing on houses!

Here's the website friends, fresh with the phone numbers to contact people regarding this homes as well. Just make sure, when shopping for these properties a few of the following:

1. Is there a redemption period for any old liens (if applicable)
2 What liens stay on title? (You want to buy a house for $1 that has 90K in tax liens?)
3. Buy local, don't go outside an area you know
4. Check out the duplexes

Happy Hunting! This is how you get your high net worth on!

http://www.countrywide.com/purchase/f_reo.asp