Foreclosed listings are on "Search Homes Land" page.  On that page there is a small box on the top left hand side of the page named "Foreclosed Listings" - click on it and the listings will appear.  Please note that we keep the information updated as much as possible, but foreclosed listings sometimes have short bid deadlines, or frequent information changes about price and status of property.  To get an up-to-the minute list, please contact us at

Foreclosure Questions and Answers:


We have worked with clients on both sides of the transaction related to foreclosures.  The following questions and answers are taken from the U.S. Department of Housing and Urban Development ( HUD) HUDclips website.  Here is a link to the website.   It is informative to both buyers and sellers.  There are two new programs administered by the Department of Treasury that provide refinancing and loan modification. The Treasury's website provides tools to do your own assessment, and identifies documents that you will need to gather before you talk to your lender.  The Treasury's website is:


If you are a veteran, the Veterans Compromise Program also may be of help.  Please click on the box to the left regarding specifics on that program, or click on this link to go directly to the VA website.  Loss Mitigation Lenders


 If you are having difficultly meeting your mortgage payments, or have not paid them, we suggest you first contact your lender to determine if payments can be deferred or possibly reduced.  Help is also available by calling the Homeowner's HOPE Hotline 888-995-HOPE.  HOPE is an alliance between HUD approved counseling agents, mortgage companies, investors and other mortgage market participants that provide free foreclosure prevention assistance.


In addition, you may want to contact a REALTORŪ before you get into a foreclosure situation.  We can help you determine a dollar range that your house will sell for based on the local market conditions.  We have successfully worked with several client's lenders to sell their property for less than the mortgage.  The remainder of the mortgage was foregiven by the lender.  This arrangement is called a short sale. 


1. What is a foreclosure property?  Foreclosure is a legal proceeding by which a lender takes ownership of a property which has been used to secure a loan, because the property owner has failed to make mortgage payments.  The lender obtains a foreclosure decree, a court order which permits the lender to sell the mortgaged property and use the proceeds of the sale to settle the outstanding debt.

2.  What happens when a homeowner defaults on a mortgage?  When a homeowner defaults (fails to make payments) on a mortgage, the lender records a Notice of Default at the local courthouse and a notice of sale by public auction is published in the local newspaper.  The period of time between filing the notice and the date of the auction is known as the pre-foreclosure period.

3.  How are foreclosed properties sold? Foreclosed properties are sold at public auction. Auctions are held on a periodic basis (daily, weekly, or monthly), typically at the courthouse where the notice was filed. The property will be sold to the highest bidder or repossessed (bought back), by the lender.

4.  What are the different types of forclosure properties?  There are three main types of foreclosure properties; pre-foreclosure (which is the period between the filing of the notice and the date of the public auction), auction property, when the home is put up for sale to the highest bidder, and real-estate owned (REO) which refers to properties which have been repossessed by the lender.

A fourth type also exists: when a loan has been guaranteed by a federal agency such as HUD or the Department of Veterans' Affairs (VA), these agencies reimburse the lender after foreclosure.  The property is then government-owned and can be sold to the public under a similar procedure to a bank foreclosure.

5.  Can I purchase a property during the pre-foreclosure period? During pre-foreclosure (typically a 2-3 month period), the homeowner has the opportunity to reinstate the mortgage.  If the mortgage has not been reinstated, it is possible to purchase the home directly from the property owner.  He or she may be willing to settle for a discounted purchase price in order to avoid the problems of foreclosure.

6.  Are REO properties available for purchase?  REO, or bank-owned, properties are often sold at discounted prices.  Banks do not want to have possession of real property, because it is expensive to maintain and does not make money for them.  Therefore, they are often willing to accept an underpriced offer in order to remove the property from their books.

7.  Do I need a realtor to buy a foreclosure property?  You do not need a realtor to buy pre-foreclosure properties, auction properties, or REOs.  However, you do need to work with a real estate agency to purchase HUD or VA homes.  There are realtors who specialize in government properties and can work with you to buy property from these agencies. 

8.   How can I find foreclosure properties?  Almost every newspaper has a section for legal notices which list properties in foreclosure, including information on the owner, the lender, and the date and location of public auction.  The internet is also a good resource for finding foreclosures in your area.  In addition, real estate agents typically have a listing of nearby foreclosure properties.

9.  How can I find out what the foreclosure property is worth?  The local tax assessor's office will have an evaluation of the property's worth for the purpose of determining the amount of property taxes to assess.  An investigation of sales on similar type houses in the near vicinity will also give you a good idea of the current market value.

10.  Should I conduct a title search?  Before you purchase any real estate, you should be sure that there are no liens or other judgments against the property.  A title search company can provide you with information on the condition of the title.  You want to be sure that once you have purchased a property, you hold "fee simple" title, meaning that you owned the property free and clear.

11.  How much should I bid on a foreclosure property?  This is a question that only you can answer, once you have thoroughly analyzed the market value of the property and determined that there are no title encumbrances or other legal issues attached to the home.  Keep in mind that the sale is final, so you need to be sure that you can afford the property and that your financing is in place before you enter a bid.

12.  If I am the highest bidder, how do I pay for the property?  Foreclosure homes must be paid for with cash or cashier's check from a bank.

13.  Where can I get foreclosure help in regards to cash for buying a home?  There are a number of avenues for obtaining financing to buy a foreclosure property.  Many people use conventional financing, but it is also possible to obtain funds through an investment partner or a hard money lender (lenders who specialize in providing loans for real estate deals).  Other options include credit cards or lines of credit.

14.  Can the homeowner repurchase the home after foreclosure? Some state laws provide for a redemption period following the sale, during which the homeowner may repurchase the property if he or she has the money.  Other states allow the purchaser to take immediate possession.

15.  Can I make money buying foreclosed properties?  Many savvy investors are able to make considerable amounts of money buying foreclosed properties.  If you are seeking home ownership, purchasing a foreclosure can net you a fair amount of equity up front.  Some investors prefer to "flip" or resell the property at a significant profit and others choose to rent out the residence for long-term cash flow.