Foreclosure Resources

There is a great deal to learn about foreclosures when you're considering buying a foreclosed property. Sorting fact from fiction and simply learning the terms of the trade should be your first step in buying a foreclosure and we offer you simple resources to do exactly that.

Lawyers.com

In the Foreclosed property section of the popular legal website, you'll find a wide range of information regarding foreclosures. The site takes you through the steps of foreclosure along with a collection of terms and points to consider. Visit Link...

"Buying Bank Owned Properties" - RealEstateABC.com

A straightforward article written by an experience realtor helps describe the differences between the various forms of foreclosure sales and specifically REO sales. Harvey describes the process of buying REO homes from the buyer and the bank's perspective as well as offering tips for buyers looking to buy a bank-owned home. Visit Link...

"Short Sales vs Foreclosures - The Real Deal"

A brief discussion on the differences between short sales and foreclosures. The article discusses the ramifications for both short sales and foreclosure for the seller and the challenges that can be presented to a buyer as well. Visit Link...

United States Department of Housing and Urban Development

The United States Department of Housing and Urban Development maintains a separate website listing the auctions of their homes. When a HUD home is foreclosed, it will be listed on the site and certain conditions must be met in order to bid on the home in an auction format. HUD homes are popular foreclosed homes available for purchase. Visit Link...

Fannie Mae

Announcement 08-16 detailed the policies by the lender in regard to foreclosures and short sales. Short sales have a two-year period of time to reestablish credit while a foreclosed property has a five-year restriction before using a loan originated from Fannie Mae. Visit Link...