Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Laura asks…

How do I locate homes that are in the foreclosure process so that I may attempt to purchase them.?

My husband and I live in Indiana and we are interested in purchasing a home. Foreclosure lists that I see on the internet charge. I am not sure if this is the way to go or if there is a free way to get this information.

Your Questions About Foreclosures

The Expert answers:

You can find foreclosures right here in Yahoo. Go to the Real Estate section and click on foreclosures.

That will give you an idea of what’s out there but keep in mind that all foreclosure web sites and lists come from public notices and are often outdated. Most foreclosures are listed with regular real estate agents so that’s a more reliable source of what’s actually available to purchase. Many of your best bargains aren’t even foreclosures at all but pre-foreclosures. Many sellers today, knowing they’re headed for forclosure, will often price their home extremely agressively to avoid going into foreclosure. Again, your local real estate agents would be the best source.

Your Questions About Foreclosures

Susan asks…

How can I find foreclosure homes in my area without having to pay for a subscription?

I live in Illinois and we are looking for a new house and I wanted to see some of the foreclosure listing and all the websites want me to pay for a subscription!

Your Questions About Foreclosures

The Expert answers:

Go to your county clerk’s office. All foreclosures are recorded there. Some local newspapers also carry a listing. Contact them and inquire about the days they are listed.

Your Questions About Foreclosures

Maria asks…

any suggestion for foreclosure homes findings?

we are looking to buy home in NY and the prices are still crazy here.
Anybody has any suggestions for homes that are short sale or foreclosure in NY area, and Long island. Any idea about real estate agents in NY that do this kind of sales?

Your Questions About Foreclosures

The Expert answers:

There are many websites – go to reonetwork.com for lists of realtors who get bank owned properties (REO) also various websites they usually have a selection of bank owned or short sales – Also ocwen.com , fanniemae.com or look at auction websites www.williamsauctions.com There is so much out there – some really bad but some really nice –

I’ve been looking at many foreclosed homes or short sales in westchester & putnam with my realtor from Somers – what area are you looking at? What is your price range – I just got an accepted offer on a house to rehab in yorktown heights – 2 bedroom – will be brand new when finished – nice neighborhood –

Your Questions About Foreclosures

Charles asks…

Is there a website where I can find foreclosure homes in NC without buying a membership?

One where I can also see pics of the homes also. Thanks.

Your Questions About Foreclosures

The Expert answers:

Foreclosure home websites arent’ worth looking at for free, they sure are not worth paying for. They are notoriously inaccurate and do not update the content regularly, so much of what is on there is wrong.

Banks do not sell their foreclosure homes to the general public, you buy them through the typical channels, Realtors. Every foreclosure house in my area is sold through a Realtor. Most offices will provide you a list of houses for sale in your area that are bank owned (REO, in REspeak). But it is a bit foolish to limit yourself to foreclosures, there are plenty of good deals out there, and not all are bank owned. And dealing with a bank can be a PITA, so just look at houses, don’t think you are going to get some screaming deal on a foreclosure because the banks want to “clear the books” or something, it does not happen that way.

Your Questions About Foreclosures

Mary asks…

How do I go about looking at foreclosure homes?

How do I go about looking at foreclosure listings in my area? Do I go to the bank or a real estate agency??

Your Questions About Foreclosures

The Expert answers:

How you view a foreclosure depends on what type of foreclosure it is. Generally, there are two types: Government owned and bank owned. If the property is government owned, any realtor can generally show it to you. Banks may or may not list their properties with a realtor. If they are listed with a realtor, they will always be available in the MLS and are viewable at realtor.com Here is some more info. From my blog:

Bank websites: Bank of America and IndyMac Bank are two of the largest mortgage companies in the US. They both list their REO property on their websites. Some other banks, such as Washington Mutual (The largest mortgage lender in the US) do not post their REO on their site. If you know of other bank REO links, please let me know.

Government websites. The majority of foreclosed homes are returned to the federal government. The agencies insuring homes include HuD, Fannie Mae, Freddie Mac, VA and USDA. There are links to all of these and more on the HUD website at hud.gov click on buy a hud home and it will take you to a state specific link. VA and Ocwen foreclosures are listed at http://www.ocwen.com/reo/home.cfm Fannie Mae properties are at http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp?p…

Traditional sites. Sites such as realtor.com list foreclosures. You can search them yourself by simply limiting the price in the area in which you are looking. Put in a price that is about 20% less than the going rate in your area. Foreclosures will generally say “corporate owned.” You may also find some non-foreclosure homes that are a bargain this way.

Public Records: Check your local legal notices at http://www.publicnoticeads.com This is a free search but not all areas are listed. You can check online to see if the county recorder in the area in which you would like to purchase has online access. If they do search for Lis Pendens and you can follow the home through the entire foreclosure process. Search on Deed and put in the name of your local sheriff as grantor and you will get only the houses that have gone to auction.

Powered by Yahoo! Answers

Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures