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Pictures Of New Life

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Foreclosed homes are the properties bought with the help of loans that can't be repaid in due time by the borrowers. Sometimes financed by Federal Housing Administration, the repo houses (whose owners have failed to pay off their debts) are sold to the public. The FHA first repays the lender and then it sells the foreclosed homes at real estate auctions to the higher bidder. These auctions are true gold mines for investors who seek to make a fortune from reselling repo houses, as well as for home seekers.



Deals involving foreclosed homes can be true bargains because the properties can be bought at a price up to 50% cheaper. Why? Because of several reasons like the fact that the homeowners are obliged to sell the foreclosed homes and the lending companies are not interested in profits, but in recovering their money. Banks and government agencies holding these repo houses want to dispose of them quickly, because it is better to transform them into cash that can be immediately invested.

Repo houses are sometimes in need of repair and further investments, but because of this they can be quite advantageous regarding the price. Of course, attention should be paid to foreclosed homes before making any deal because there are properties that can need a lot of fixing and you might end up spending more than you'll earn from later selling.

Investing in real estate implies a “good eye” when it comes to damaged property. You don't want to pass up an opportunity. Some repo houses might not be in a real good shape because of the owners who did not have money to improve them or because their vacancy period was too long. It is necessary for you, as a potential buyer, to know the repairing costs. The sum of money you'll invest in foreclosed homes must not be bigger than the renovation cost.

So, knowledge is the first step in a wise investment and the best deals are made through comparison and calculations. After visiting websites which provide lists of repo houses and deciding on few of the available foreclosed homes (by taking into consideration your wishes regarding the type of house, the size and the location) an expert's opinion is most welcomed.

Foreclosure listings are not difficult to find and the most recommended ones are available online. Various websites strive to offer their clients quality, detailed information on foreclosed homes. Their advice is above all very important as their experience can tell which area is most recommended for a certain client.

Banks can also offer data on repo houses, but you might want to make a research from the comfort of your own home and bank foreclosure listings will take a lot of your time. Therefore the Internet is the most reliable source of updated information regarding foreclosed homes. Online services include recent foreclosed homes and news regarding the selling of certain properties.

Foreclosed homes are marvelous real estate bargains. They are cheaper because of their owners' problems, but also because, when buying repo houses, you can save a lot of time and money that you would normally lose during the collaboration with certain real estate agents. And it's not just pennies we're talking about; we're talking about thousands of dollars saved through personal online searches of foreclosed homes. It is cheaper to do it yourself without paying commissions and the choices can be just as good.

When it comes to buying repo houses, the benefits are numerous. You might not even need to have all the money when you bid for foreclosed homes. This is why they are so convenient. You can, in some cases, propose financial facilitations, even though your bid would normally need to be backed up. So, if you are interested in investing or in buying a home for you and your family, a foreclosure listing is the place where you should start your search. You can find out a lot more if you're well informed.
Pictures Of New Life
It sounds trite, but recent developments around the world have demonstrated the truth behind the saying.

NioGold Mining (TSX.V:NOX) has just finished drilling over 10,000 metres of a planned 40,000 metre drill program on its wholly owned Marban Block property. This initial round of the program is investigating gold mineralization in the area immediately surrounding the past-producing Marban Mine. All of the holes indicated that the geologic features that helped establish the Marban Mine are also present in the ground around the mine.

Certain veined and mineralized sections bear strong similarities to Agnico-Eagle's (TSX:AEM) Goldex deposit (which contains an estimated 21.4 million tonnes grading 2.39 g/t Au for a total of 1.64 million ounces of gold) located 10 kilometers to the southeast. Follow-up holes are planned.

NioGold first drilled 10,000 metres across 63 holes during its 2006 exploration program.

Jay Taylor, a respected and widely followed investment analyst who has recommended the company to his subscribers, thinks the Malartic Gold Camp is an ?outstanding? area to be developing gold resources.

?NioGold, because it's in a historic gold camp, is surrounded by infrastructure. You have people, roads, power and milling facilities, so conceivably a company like NioGold could prove up a deposit and put it into production in relatively short order,? he says. ?I look at it as a less risky exploration play compared to other projects because it's in such a well developed location.?

The camps presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration ? TSX.V:OSK), Kiena (Wesdome Gold Mines ? TSX:WDO), Midway (Northern Star Mining ? TSX.V:NSM), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals). The Marban Block encompasses three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines. These companies collectively produced 592,265 ounces of gold.

The Marban Block project is located in the western portion of the province of Quebec, Canada, midway between the towns of Val-d'Or and Malartic, in the southern portion of what is known in mining terminology as the Abitibi greenstone belt. This area falls within the Malartic Mining ?camp?, which has yielded a total estimated 8.9 million ounces of gold ? worth US $6.2 billion at today's prices.

The Marban Block has seen exploration since 1940, and at least 14 different companies have explored and/or mined the property since that time.

The project is the result of NioGold's consolidation of four contiguous properties in the Malartic mining camp ? Norlartic, First Canadian, Marban, and Gold Hawk ? and consists of 34 mining claims, three concessions, and one mining lease covering a total of 972.8 hectares.

A report by independent geology consultants Mine Development Associates of Canada has put over 342,000 ounces of gold into a National Instrument 43-101 compliant resource estimate, but the recently announced drill results mean that these numbers are growing.

Besides the Marban Block, NioGold has two other ongoing exploration projects in its property portfolio. Briefly, they include the Camflo West Property, where in 2006, NioGold completed geophysical surveys and drilled 11 widely spaced holes (3,300 metres) testing the sediment / volcanic contact. The drilling uncovered high level intrusives and significant alteration similar to those associated with gold mineralization of the Malartic camp. Values of up to 9.08 g/t Au over 1.2 metres were returned from the drilling.

Located 200 kilometers southeast of the town of Val-d'Or and 50 kilometers north of the Mt-Laurier uranium district, Pump Lake is an early stage project that displays characteristics comparable to the Iron Oxide-Copper-Gold (IOCG) class of mineral deposits. These include the association of iron oxides (magnetite, hematite), copper, gold and uranium and the proximity to intrusive rocks. World-Class examples of IOCG's are found at Olympic Dam and the Cloncurry district (Australia), Candelaria (Chile), Salobo (Brazil), and the Kiruna district (Sweden).

The company is led by Michael Iverson, who was Chairman, Director and Chief Executive Officer of Fortuna Silver Mines (TSX.V:FVI) from March 1998 to December 2004 and who remains as a board member, and Vice-President Rock Lefran?ois, whose 20 years in the field has seen his service as senior geologist for Cambior (recently acquired by IAMGOLD Corp [NYSE:IAG]) and Aur Resources (recently acquired by Teck Cominco [TSX:TCK]). His wide-ranging knowledge of exploration methods applied to various styles of mineral deposits and his ability to develop exploration concepts will be an asset in advancing NioGold's diversified portfolio of projects.

NioGold currently has 61.1 million shares issued and outstanding, with 78.5 million fully diluted. Visit the company's web site at http://www.niogold.com.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
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