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I’m sure everyone knows by now about the real estate crisis going on all across the United States. Bank foreclosures and pre-foreclosures are at record highs and both the home owners and banks are in trouble because of it. It’s a material tragedy that many people, most with good intentions, could lose their houses. Some homeowners face bank foreclosure just after missing one or two payments. It’s the reverse side of the American Dream.

If homeowners facing foreclosure can act quickly enough, they can go ahead and sell their home for low prices before the banks officially forecloses them. This is called “pre-foreclosure”. Pre-foreclosure is a grace period that is given to many homeowners who are close to foreclosure. During the pre-foreclosure period, the home still belongs to the borrowers and they have a right to sell it to interested buyers. The pre-foreclosure grace period can last anywhere from 3 weeks to 6 months, varying from state to state.

Due to the real estate market crisis, many low income Americans now have the opportunity to purchase good homes at low prices. Bank foreclosure homes are put up for sell for as low as 10% of the market value. They wish to regain some of their money back and to get rid of all of the foreclosure homes as quickly as possible. This makes it easier for lower income families to afford a good home for literally cents on the dollar. Lower income families and new home buyers can now afford a home that would normally be out of their financial range.

Investing in foreclosure and pre-foreclosure homes and reselling them for much more is now an excellent way to earn a lot of money. For instance, you can buy foreclosure and pre-foreclosure homes for 10% of their worth, and then resell them for 70% of their market value. Even if you’ve never had an interest in real estate before, the opportunities are abundant. But where will you find these opportunities?

There are many foreclosure and pre-foreclosure listing sites which will allow you electronic bids. Unfortunately though, many of them are only scams. Some so called “foreclosure” and “pre-foreclosure” listing sites will charge you a membership fee, but then neglect to give you access to promised listings! Many of these sites have no current listings at all and never update. They sure don’t mind taking your money though.

Of course there really are legitimate, truthful foreclosure and pre-foreclosure listings found on the internet for every city in America. Many government auction sites offer real bidding opportunities for foreclosure homes. So how will you know exactly which membership sites are trustworthy and which ones are not? Thankfully there are government auction review sites that have all the information you’ll ever need. The professionals behind the government auction reviews go digging into government auction sites and test their legitimacy. They have inside information on several government auction sites and listings.

Many of these membership sites offer real, top deals on real estate, bank foreclosures, and contact information for the pre-foreclosure homes. Government auction review sites will let you know which ones are the best. Make sure you read government auction reviews before you begin bidding on foreclosure homes. You will receive the best advice and information about the real foreclosure and pre-foreclosure listings!