How to find foreclosed homes

Posted December 3, 2008 by Bernz

If you have the capital to make a home purchase or can get a mortgage loan you might want to consider buying a foreclosed home. Chances are you’ll have plenty of luck finding a home in foreclosure as there are about 8 million homes with negative equity and millions of home owners owe more on their house than what the house is actually worth.

First, all you might need to do is walk around your neighborhood, especially if you live in Atlanta, Miami, or Las Vegas, as these cities have the highest foreclosure rates in America.

Other ways to find foreclosed properties are:

Check with a local real estate agent. They’ll have a listing for properties in your area.

Do a keyword search on foreclosed homes and also look for terms such as “REO (real estate owned), “as is” and “bank owned”. Tip: if you see a listing for a home in your newspaper or online that is very low that is a good indication that it is in foreclosure.

Redfin, Trulia, and Zillow list foreclosed homes on their website.

Review the listing Under Homes at U.S. Department of Housing and Urban Development (HUD) website.

Click here to visit homes being auctioned by the IRS.

You can also find home foreclosures through foreclosure databases, some offer a free trial, others charge a fee immediately. If you choose to use these services make sure you review the site carefully because foreclosure listings might not be current.


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One Response to “How to find foreclosed homes”

  1. brandon mc Says:
    December 3rd, 2008 at 5:29 pm

    best way to find a foreclosed home? walk outside…

    people need some help: thebetterbailout.com

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