Free Foreclosure Database
Foreclosure homes are generally of two primary types, the foreclosure by judicial sale and the nonjudicial foreclosure type, with each having its own specifications and requirements. By 2016, however, the housing market had substantially recovered, and foreclosures reached all-time lows. All they do is sell foreclosed homes, often for discounted commissions because they sell them in volume. Companies like RealtyTrac sell access to foreclosure listings.
Well, buying a foreclosure property can work out well for the buyer — if not the previous owner, for whom it’s usually heartbreaking. The pre-foreclosure stage can yield some real bargains, but most experts agree it’s the most difficult stage during which to purchase a distressed home.
Some of their properties go on the market for more money than they’re worth, but they often drop the asking price after it’s been in the market for a while. Foreclosures always need a thorough inspection due to …
A foreclosed home is one in which the home owner was unable to pay his home loan so that the lender took over home ownership through the foreclosure process. You own your property until the title goes to a new owner, usually the foreclosing lender, as a result of a foreclosure sale. If you are unable to make your mortgage payment or have already missed one payment, call your lender NOW. A lien is usually held as security for payment of a debt.