Foreclosures

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gbu11

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How do you get the list of foreclosures in your area. I want the source not just a guy who has the source.

Can anyone get this? Is it different for every city?
 
You can go to the HUD website and find homes for sale in your area. All the homes that have been reposessed by a lender or the government are listed with a realtor, just find a good one and you will be in business.
 
In cities here in VA the forclosure auctions are listed in the newspapers. I don't know if you're looking to buy at auction, but from my experience it saves you a lot of time and money. You can find the listings in the paper ahead of time, ride by and see what you think. Our listings generally tell when the mortgage was taken out and how much it was for, so you could get an idea of how much is still owed so you'd know wether you'd want to bid or not.

Good luck!

Judiebug
 
a friend of mine was looking for foreclosures but didnt want all the competition of the hud homes so he went to every major banks website and looked for a forclosure link and some of them had them, i think he said citibank has one but when you have time just check all the banks websites and see what you can find, dont pay anyone for a list, if they found it you can too. i know hud has a list if you google them youll get the website and i think the veterans administration has va foreclosures. Good luck and if you find any good links, can you post them for the rest of us? thanks
 
I would be interested in finding any additional material as well, beyond bank lists and 800#s of people wanting to sell you the list they compiled.
 
Generally, HUD lists homes in areas where the neighborhood is not always up to par - it depends upon where one is looking - for me - it is upstate New York where I want to live one day.

The Veterans Administration also has real estate listings - generally, the VA sells the homes once the veteran/s default on their loan - then the house is opened to the general public. Personally, I have not yet tried to buy a house this way - I feel that I need to retire first - in about 14 years or so, before I can realize my dream. I don't feel I can afford to have a home and keep an apartment at the same time. I would be overwhelmed financially.
 
Talk to the local banker. He doesn't want to go through foreclosures so he/she will network you with someone who's sinking and you may be able to just take over the payments. The banker's lawyer will fix the deed over to you and the bank will add your name to the mortgage. The catch is, if you should default then, the bank will look back to the original debtor for the payments. But we won't mention that in the debtor's presence, will we?
Glenn
 
Another avenue of approach when looking for foreclosures at being auctioned, is your county's Sheriff's website (perhaps). My local does, but the funny thing is 98% of the auctions go to the bank who posted it in the first place.... higher than the required starting bid. Go figure.
 
Banksers are always at the foreclosure sales to protect their own interests. They bid something like 5% over the amount to pay the loan off. Then, quite often they will make a deal with someone in the crowd to sell the house. If you are interested in a particular house, go over and talk to that banker. He doesn't want the house, just his money.
Glenn
 
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