How do I find foreclosures in my area?
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Answer:
I will repost a previous answer since this is a common question. It is also on my 360 page:
Where Can I find Foreclosures Online
This is the most common question I see in the Renting and Real Estate section of answersroom.coms. Here is my answer, although there may be better answers out there.
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/reosearch...
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.
you can dig at the local court house or pay a service like forclosures.com and they let you search listings
Realtor.com, realtytrac.com, foreclosure.com
Those are ones listed with a Realtor. If you don't mind some with work, check out HUD.gov. We bought a HUD home for a fraction of what it would be normally, but only had a subfloor.
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