The financial crisis that has plagued the United States for the last number of years has had its toll on homeowners. More and more families are losing their homes and unable to keep up with the financial obligations they have made with lending institutions. Job loss and depreciating value of homes have put more home-owners underwater.
As a result, the banks have huge financial burdens on their accounting books from these bad debts. As a part of a cleansing process, the properties are foreclosed and liquidated through auction.
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Another wave of these foreclosures will be released in the near future, as banks need these debts off their books! This significant backlog of bad loans will need to be resolved. But this creates great opportunities for smart investors. Bridge City Investment Inc. does not acquire properties that have the homeowners currently in them. We don't kick anyone out of their homes. We acquire the properties from other investors and through auctions put on by the trust companies after the foreclosure process has been completed. |