Guide to U.S. Foreclosure Listings

U.S. foreclosure listings can lead you to residential and commercial properties that are being sold below market value. Studies show that U.S. foreclosures sell for an average of 22 percent less than average home sales. Whether you’re seeking a property to call home or an investment property that you can turn around and sell for profit, you have several options for finding foreclosure property listings in the U.S.

Foreclosure properties in the U.S. are the result of homeowners or business owners missing their mortgage payments and defaulting on their loans. U.S. foreclosure properties may also be called U.S. distressed properties.

A U.S. foreclosure property may be sold at one of three stages in the foreclosure process:

1. Stage 1 — Pre-foreclosure: Homeowners who have missed at least one mortgage payment are considered to be in pre-foreclosure. Pre-foreclosure properties in the U.S. may be sold at 20-40 percent below market value.
2. Stage 2 — Foreclosure auction: U.S. foreclosures are sold at auction by the lenders to the highest bidders. Buying at auction can result in savings of 35-50 percent off market value.
3. Stage 3 — Real Estate Owned (REO): When the lending bank is the highest bidder at the auction or there are no bidders, properties become bank-owned foreclosures. In the U.S., buying property from the bank typically results in more modest savings.

Action Steps
The best contacts and resources to help you get it done

Find foreclosure property listings in the U.S.

Providers of foreclosure listings in the U.S. typically offer state-by-state listings so you can find foreclosures in your area or across the country. Note that most U.S. foreclosure listings can only be accessed by registering and paying a monthly fee.

I recommend: Providers of foreclosure listings in the U.S. include RealtyTrac, Foreclosure.com, RealtyStore.com and ForeclosureS.com. They offer some of the largest listings of foreclosures, with thousands of properties listed.

Find pre-foreclosure listings

Use pre-foreclosure listings to find homeowners who may be motivated to sell at below market prices to avoid foreclosure.

I recommend: FindMeDistressedHomes.com specializes in U.S. distressed properties and offers pre-foreclosure listings nationwide.

Find listings for U.S. foreclosures at auction

An auction for a U.S. foreclosure property is typically held at the county courthouse. Buyers must be present and usually must bring a deposit in the form of a cashier's check.

I recommend: At the Real Estate Disposition Corporation, you can check the auction calendar listings for upcoming sales on U.S. foreclosure properties. The federal government real estate auctions listed at GovernmentAuctions.org often include foreclosures. Express Auction Real Estate Services auctions off residential and business foreclosures in the U.S.

Find listings for government-owned and bank-owned foreclosures in the U.S.

If you're interested in profiting from government-owned or bank-owned foreclosures in the U.S., seek out listings that focus on this segment of the foreclosure industry.

I recommend: HUDForeclosed.com offers the largest inventory of government-owned and bank-owned foreclosures in the U.S. At All Foreclosure Information, you can search for properties owned by various banks nationwide.

Find listings for U.S. commercial foreclosure properties

Business foreclosures in the U.S. occur when businesses default on a commercial mortgage loan. In the U.S., commercial foreclosure properties can be agricultural, industrial or business properties.

I recommend: Search the business foreclosure listings at Foreclosure Listings. Other providers of commercial foreclosure listings in the U.S. include ForeclosureFreeSearch.com and ForeclosureDataBank.com.

Find free foreclosure listings

Few providers of foreclosure listings in Massachusetts offer free foreclosure lists, however, you can find free trials or very low-cost trials.

I recommend: ForeclosureFreeSearch.com offers a free seven-day trial. For a seven-day trial, you’ll pay $1 at HUDForeclosed.com, $1.95 at RealtyStore.com and $3.95 at ForeclosureDeals.

Take advantage of learning tools to help you navigate U.S. foreclosure listings

Many providers of U.S. foreclosure listings offer online tutorials, webinars and other educational resources to help you master the art of investing in foreclosures.

I recommend: Check out the learning center at RealtyTrac or the Foreclosure.com webinar series for educational sessions on buying foreclosure properties in Massachusetts.

Tips & Tactics
Helpful advice for making the most of this Guide

• When considering providers of foreclosure listings in the U.S., look for those that offer neighborhood reports and sale comparisons.
• Some providers of foreclosure listings in the U.S. let you apply for loan and downpayment programs via their websites.
• U.S. commercial foreclosure properties offer some of the biggest savings off market value.

The official source of U.S. Foreclosure Listings is
the US Foreclosure Listings page at Business.com