General Question

MacHacker's avatar

How do I find foreclosures locally?

Asked by MacHacker (75points) August 10th, 2007

Ok. So currently I am in the process of trying to get out of my house. I have a small amount of money saved up, and I am trying to find a place of my own. Now my understanding of a foreclosure, is when the bank resumes controol of the property and wants to sell it to get there money back because for one reason or another the previous owner could not pay for it. I was looking for some recommendations on how to go about finding them at little or no cost to myself. Secondly, I dont necessairly know where I will be in say the next five years, so I'm thinking maybe a condo would be more suited to my needs. Any and all information appreciated.

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3 Answers

mirza's avatar has a great list of foreclosures near you

also if you go to YaHoo Real Estate, set "Foreclosures" as a listing type and put in your zip code, it shows a nice list with map and pictures of foreclosure houses near you

rovdog's avatar

Look for the local sheriff's office website and see if they have it posted. Or contact them for a print listing. Just because a property has been foreclosed on does not mean it's likely to be sold. They should have a listing on the properties that are going to auction and when and where the auction is. Another thing that people do often is to approach the current homeowner and strike a deal with them directly. I don't know that much about it and you should definitely consult someone but you must pay attention to the tax lien status of the house. Make sure there aren't liens against it or otherwise you can inherit the tax burden (or be willing to take them on). I believe it is also possible to get title but not the property itself. Some states also require that you evict the last homeowner yourself, so you'll want to check into that. I don't think it's impossible to do yourself but you should talk to someone who's done it. Maybe they'll post here.

homeforeclosure's avatar

There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first. Try . Good luck!

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