First-Time Foreclosure Virgins Edge Out Investors

SAN ANTONIO, TX, April 17, 2013 (Press-News.org) Hungry investors absorbed the swell of foreclosures on the market since the housing crisis began, gobbling them up to flip, then resell or rent. But today another group is showing interest in these homes for their own personal use ... first and second time homeowners.

Gaining Equity helps young families learn to buy a "piece of work" and renovate it into 'home-sweet-home."

Home Savers LLC founder and investor since 2003, Texas real estate agent Sam Maropis (Success Realty) scours local and national markets for bank owned homes for sale. His company Gaining Equity now matches these homes with people who are new to foreclosures and want to get a great deal on their first home.

"Why should investors have all the fun?" Maropis jokes. While admitting that foreclosures are "always work," he shows his clients that the process of buying a fixer-upper doesn't have to be painful. "As long as there's a plan in place, the work goes smoothly and you can start gaining equity fast in a home you're actually living in."

Through training and web support, Gaining Equity assists buyers through a system that helps them to:

1: First understand the great potential in the foreclosure market.
2: Decipher financing options with local mortgage brokers' tips and advice.
3: Point them in the right direction to find the right house in their area.
4: Teaming up with local agents or in some cased an attorney.
5: Educated on the home inspection process and help hiring of necessary professionals.
6: Help with tricks to obtain bids from contractors and understand the costs of doing a rehab.
7: After the close, advising on the process for getting the work done.

Recently awarded the Better Business Bureau's stamp of approval, Gaining Equity makes recommendations for "foreclosure virgins" based on their budget, tolerance for work, inconvenience and lifestyle. Then the program trains them in getting the house fixed.

Having children around might exclude hands-on remodeling, for example, but it shouldn't mean a buyer should only look at perfect houses at a higher price. "There's a foreclosure out there for everyone, regardless of their circumstances," Maropis maintains. Gaining Equity was founded to guide the foreclosure process from the purchase through the renovation, resulting in a settled and satisfied homeowner. The company serves clients across the United States.

The number of foreclosures in most markets remains high. The shadow inventory of available foreclosures across the United States now includes higher quality homes that are perfect for first-timers. The fear of foreclosures is unfounded and shouldn't be the exclusive realm of investors looking for profits.

Founded by Sam Maropis, Gaining Equity serves homebuyers and foreclosure buyers nationwide. Visit www.GainingEquity.com for the 7 things you must know before considering buying a foreclosure for the first time.