Foreclosed Houses, Bank Owned, REO's, HUD Homes

Bank Owned/ REO Homes

Homes that didn't sell at the foreclosure auction almost always appear on the MLS. These houses are purchased by the bank at they did not sale at the foreclosure auction, and will be sold "as is, without warranty" to a potential buyer. Banks usually want to get rid of these properties quickly, so they price them slightly below market value to encourage a quick sale. Bank Owned and REO houses are usually a discount, but considering the work that usually needs to be done on them they are rarely a screamin deal. Bank owned homes are aggressively marketed and there is lots of competition. REO's are the easiest foreclosed properties to purchase.

A property that is bank owned is known as REO (Real Estate Owned). One of the more common REO foreclosed properties are HUD Homes. Listings of foreclosed homes on the "pay" sites are not very accurate. Foreclosed homes are always on the mls. Some Realtors specialize on REO's. It is a good idea to find a "REO Realtor"

• Search MLS Listings for Foreclosed/Bank Owned REO properties

• Search Forclosure websites free for one week for REO properties

• Find a Realtor who Specializes in REO bank Owned Homes

• Bank of America Owned Homes

• Chase Bank Foreclosed Properties

• CitiMortgage Bank Owned Homes

• Compass Bank REO Homes

• Search Countrywide Foreclosure Database

• House Hold Bank HSBC Mortgage Supply

• Ocwen Financial Corporation Foreclosed Properties

• Wells Fargo REO Properties Search

A Bank Owned Property can usually be purchase for less than market value, as the banks want to get rid of them in ninety days. REO property are almost always listed by real estate agents. Each town has bank owned homes real estate broker specialists.

HUD Homes

Some of the most common lender owned properties are HUD Homes. HUD Homes are Bank owned homes that were secured by FHA Government back loans. Not all Foreclosed properties are HUD homes. New HUD homes are listed, and become availbe to the public once each week, usually on Fridays. HUD homes can usually be purchased below market value, but initially they can usually only be purchased by home buyers intending to use the property as their personal residence. HUD offers are made as a silent bid done online. If a HUD home is on the market for several weeks, the bidding is then opened up to all Real Estate Investors and home buyers.

• View HUD Homes on the MLS(for all states)

• View HUD Homes for Sale for free on MCBREO.com (HUD Homes in Arizona, Colorado, Nevada, Montana, Michigan, Utah)

• View HUD Properties from Directories for other states (California, Virginia, Florida, Pennsylvania, South Carolina, Massachusets, Maryland, Illinois)

Special HUD programs for Teachers, Officers, and Government Workers

There are special programs fore teachers, police officers, government workers, hurricane and disaster victims, who want to purchase HUD Homes. Basically, these Hud Homes can be purchased for half price for individuals who meet the housing and urban development requirements. Houses that qualify for these program are rare, and are hard to get as the bids are selected by a random lottery. These auctions must be made with the assistance of a licensed real estate agent regestered as a HUD Broker. There are usually multiple bidders fore each of these high demand homes.

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Tax Lien Auctions - Government Tax Lien Sales

In a Government Tax Lien Sale, The government actually initiates the foreclosure. Regardless of how much is owed on a property, the government is always in first position and get all they are owed from the sale of the foreclosed house.

Tax Foreclosure homes are rare, but to find Tax Foreclosure Properties for sale, subscribe to the search service provided by realty trac. Look For Tax Sale Auctions in:

You can find foreclosed homes, bank, reo, and HUD right now on the MLS for these areas:

Arizona REO Auctions

Phoenix Area

Pinal County

Apache Junction, Arizona City, Casa Grande, Coolidge, Eloy, Florence, Gold Canyon, Maricopa, Queen Creek, Maricopa County, AZ, Ahwatukee, Anthem, Apache Junction, Arlington, Avondale, Buckey, Carefree, Cave Creek, Chandler, Desert Hills, El Mirage, Fountain Hills, Gila Bend, Gilbert, Glendale, Gold Canyon, Goodyear, Higley, Laveen, Litchfield Park, Mesa, New River, Paradise Valley, Peoria, Phoenix, Queen Creek, Rio Verde, Scottsdale, Sun City, Sun Lakes, Surprise, Tempe, Tolleson, Tonopah, Waddell, Wickenburg, Wittman, and Youngtown Arizona.

Tucson Area

Pima County, AZ

Corona de Tucson, Marana, Oro Valley, Sahuarita, Central Tucson, East Tucson, North East Tucson, North West Tucson, Southern Tucson, South West Tucson, Western Tucson, Northern Tucson, Vail

 

Pinal County AZ

Marana, Northeast Tucson

Colorado HUD Auctions

Adams County, CO

Aurora

Brighton

Broomfield

Commerce City

Denver

Dupont

Eastlake

Federal Heights

Henderson

Northglenn

Thornton

Westminster

 

Arapahoe County CO

North Aurora

South Aurora

Centennial

Cherry Hills Village

Englewood

Foxfield

Greenwood Village

Littleton

Sheridan

 

Broomfield County, CO

Broomfield

Denver County, CO

Downtown Denver

Northeast Denver

Northwest Denver

Southeast Denver

Southwest Denver

Fort Logan Colorado

 

Douglas County, CO

Castle Rock

Highlands Ranch

Littleton

Lone Tree

Parker

 

Gilpin County Colorado

Black Hawk

Central City

Rollinsville

 

Jefferson County, CO

Arvada

Black Hawk

Bow Mar

Broomfield

Columbine

Edgewater

Evergreen

Golden

Indian Hills

Lakewood

Littleton

Morrison

Rollinsville

Westminster

Wheat Ridge

 

Delaware - DE

 

Camden County, Delaware

Bank Owned Homes can be found on the MLS for: Atco, Audubon, Barringon, Bellmawr, Berlin, Blackwood, Blackwood, Brooklawn, Camden, Cedar Brook, Cherry Hill, Chesilhurst, Clementon, Collingswood, Gibbsboro, Glendora, Gloucester City, Glocester Township, Haddon Heights, Haddon Township, Haddonfield, Hammonton, Laurel Springs, Lawnside, Lindenwold, Magnolia, Merchantville, Mount Ephraim, Oaklyn, Pennsauken, Pine Hill, Runnermede, Sicklerville, Somerdale, Stratford, Voorhees, Waterford Works, West Berlin, Westmont, Winslow, and Woodlynne DE.

Chester County, DE

Avondale, Berwyn, Birchrunville, Borough of West Chester, Chadds Ford, Chester Springs, Coatesville, Devon, Downingtown, East Fallowfield, Exton, Kennett Square, Landenberg, Lincoln University, Malvern, Newtown Square, Paoli, Parkesburg, Phoenixville, Pottstown, Spring City, Unionville, Wayne, West Chester, and West Grove Delaware.

New Castle County - Wilmington Delaware

Bear, Claymont, Greenville, Hockessin, Middletown, New Castle, Newark, Newport, Odessa, and Wilmington Delaware.

Georgia Foreclosed Properties

• Barrow County - Auburn, Bethlehem, Braselton, Startham, Winder
• Bartow County - Adairsville, Cartersville, Emerson, Euharlee, Kingston, Taylorsville
• Carroll County Georgia - Bowdon, Bremen, Carrolton, Roopville, Temple, Villa Rica, Waco, Whitesburg
• Cherokee County, GA - Acworth, Alpharetta, Ballground, Canton, Cumming, Holly Springs, Roswell, Waleska, White, and Woodstock Georgia.
• Clayton County, GA - College Park, Conely, Ellenwood, Fayetteville, Forest Park, Hampton, Jonesboro, Lake City Morrow, Rex, Riverdale, and Stockbridge.
• Cobb County, Georgia - Acworth, Atlanta, Austell, Kennesaw, Mableton, Mariettta, Powder Springs, Roswell, Smyrna, and Woodstock GA.
• Coweta County - Grantville, Moreland, Newnan, Palmetto, Senoia, Sharpsburg.
• Dawson County - Dawsonville Georgia.
• Dekalb County- Atlanta, Avondale Estate, Chamblee, Clarkston, Conley, Decatur, Dekalb, Doraville, Dunwoody, Ellenwood, Lithonia, Pinelake, Scottdale, Stone Mountain, and Tucker GA.
• Douglas County- Atlanta, Austell, Douglasville, Lithia Springs, Villa Rica, and Winston.
• Fayette Georgia - Brooks, Fairburn, Fayetteville, Peachtree, Peachtree City, Riverdale, Senoia, and Tyrone.
• Floyd County - Kingston Georgia.
• Forsyth County - Alpharetta, Cumming, Duluth, Gainesville, Suwanee.
• Fulton County - Alpharetta, Atlanta, College Park, Duluth, Dunwoody, East Point, Fairburn, Hapeville, Johns Creek, Milton, Palmetto, Riverdale, Roswell, Sandy Springs, and Union City.
• Gilmer - Ellijay and East Ellijay.
• Gordon County GA - City of Ranger
• Gwinnett County Georgia - Atlanta, Berkeley Lake, Buford, Dacula, Doraville, Duluth, Grayson, Hoschton, Lawrenceville, Lilburn, Loganville, Norcross, Snellville, Stone Mountain, and Sugar Hill GA.
• Hall County - Braselton, Buford, Flowery Branch, Gainesville, Hoschton, Oakwood
• Haralson County - Brernen, Buchanan, Tallapoosa, Waco
• Henry County - Ellenwood, Hampton, Jonesboro, McDonough, Rex, Stockbridge
• Jackson County - Braselton, Hoschton, Jasper County, Newborn
• Newton County - Conyers, Covington, Mansfield, Newborn, Oxford, Porterdale, Social Circle
• Oconee County - Statham Georgia
• Paulding County - Acworth, Dallas, Douglasville, Hiram, Powder Springs, Temple, and Villa Rica.
• Pickens County Georgia - Big Canoe, Jasper, and Ranger
• Pike County - Williamson and Zebulon
• Rockdale County, Conyers Georgia - Conyers, Covington, Stockbridge
• Spalding Cty - Brooks, Williamson
• Troup County/ Westpoint Georgia, White County Sautee
• Walton County GA - Bold Springs, Loganville, Oxford, Social Circle, Walnut Grove

Massachusetts Forclosed Properties:

Barnstable County:

Barnstable, Bourne, Bournedale, Brewster, Buzzard's Bay, Centerville, Chatham, Cotuit, Cummaquid, Dennis, Dennisport, East Dennis, East Falmouth, East Sandwich, Eastham, Falmouth, Forestdale, Harwich, Harwichport, Hyannis, Marstons Mills, Mashpee, Monument Beach, New Seabury, North Falmouth, Orleans, Osterville, Pocasset, Provincetown, Sagamore, Sagamore Beach, Sandwich, South Dennis, South Yarmouth, Truro, Wellfleet, West Barnstable, West Dennis, West Falmouth, West Yarmouth, and Yarmouth.

Bristol County, MA:

Acushnet, Attleboro, Berkley, Dartmouth, Dighton, Easton, Fairhaven, Fall River, Freetown, Mansfield, New Bedford, North Attleboro, Norton, Raynham, Rehoboth, Seekonk, Somerset, Swansea, Taunton, and Westport Massachusets.

Essex County, Massachusets:

Amesbury, Andover, Beverly, Boxford, Danvers, Essex, Georgetown, Gloucester, Groveland, Hamilton, Haverhill, Ipswich, Lawrence, lynn, Lynnfield, Manchester, Marblehead, Merrimac, Methuen, Middleton, Nahant, Newbury, Newbury Port, North Andover, Peabody, Rockport, Rowley, Salem, Salisbury, Saugus, Swampscott, Topsfield, Wenham, and West Newbury. Hampden County, Brimfield MA.

Middlesex, MA:

Acton, Arlington, Ashland, Ayer, Bedford, Belmont, Billerica, Boxborough, Burlington, Cambridge, Carlisle, Chelmsford, Concord, Dracut, Dunstable, Everett, Framingham, Groton, Holliston, Hopkinton, Hudson, Lexington, Lincoln, Littleton, Lowell, Malden, Marlborough, Maynard, Medford, Melrose, Natick, Newton, North Reading, Pepperell, Reading, Sherborn, Shirly, Somerville, Stoneham, Stow, Sudbury, Tewksbury, Townsend, Tyngsboro, Wakefield, Waltham, Watertown, Wayland, Westford, Weston, Wilmington, Winchester, and Woburn Massachusetts.

Norfolk County, Mass:

Avon, Bellingham, Braintree, Brookline, Canton, Cohasset, Dedham, Dover, Foxboro, Franklin, Holbrook, Medfield, Medway, Millis, Milton, Needham, Norfolk, Norwood, Plainville, Quincy, Randolph, Sharon, Stoughton, Walpole, Wellesley, Westwood, Weymouth, and Wrentham, MA.

Plymouth Massachusetts

Abington, Bridgewater, Brockton, Carver, Duxbury, East Bridgewater, Halifax, Hanover, Hanson, Hingham, Hull, Kingston, Lakeville, Marion, Marshfield, Mattapoisett, Middleboro, Norwell, Pembroke, Plymouth, Plympton, Rochester, Rockland, Scituate, Wareham, West Bridgewater, and Whitman Mass.

Suffolk County, Mass.

Allston, Back Bay, Beacon Hill, Boston, Brighton, Charlestown, Chelsea, Chestnut Hill, Chinatown, Dorchester, East Boston, Hyde Park, Jamaica Plain, Mattapan, Mission Hill, North End, Revere, Roslindale, Roxbury, South Boston, South End, The Fenway, Waterfront, West Roxbury, and Winthrom MA.

Worcester County, Massachusetts

Ashburnham, Auburn, Barre, Berlin, Blackstone, Bolton, Boylston, Brookfield, Charlton, Clinton, Douglas, Dudley, East Brookfield, Fitchburg, Gardner, Grafton, Hardwick, Harvard, Holden, Hopedale, Hubbardston, Lancaster, Leicester, Leominster, Lunenburg, Mendon, Milford, Millbury, Millville, North Brookfield, Northborough, Northbridge, Oxford, Shewsbury, Southborough, Southbridge, Spencer, Sterling, Sturbridge, Sutton, Upton, Uxbridge, Warren, Webster, West Boylston, West Brookfield, Westborough, Westminster, Winchendon, and Worcester Mass.

House Foreclosures in Nevada

Clark County, NV

Anthem

East Henderson

Green Valley

Solera

Henderson

Jean

Las Vegas

Coronado Ranch

Down Town Las Vegas

East Las Vegas

Lone Mountain

Mountains Edge

Paradise

Red Rock

Rhodes Ranch

Silverado Ranch

Southern Highlands

Spring Valley

Summerlin

Sunrise Mountain

The Lakes

North Las Vegas

Aliante

Centennial

North Las Vegas City

 

Foreclosed Listings in New Jersey

Burlington, New Jersey

Bordentown, Burlington, Cinnaminson, Delanco, Delran, Eastampton, Edgewater Park, Evesham, Florence, Hainesport, Lumberton, Maple Shade, Marlton, Medford, Medford Lakes, Moorestown, Mount Holly, Mount Laurel, Palmyra, Riverside, Riverton, Roebling, Westampton, and Willingboro NJ.

Gloucester County New Jersey

Blackwood, Clarksboro, Deptford, Franklinville, Gibbstown, Malaga, Mantua, Mickleton, Mount Royal, Mullica Hill, National Park, Newfield, Paulsboro, Sewell, Swedesboro, Thorofare, Turnersville, Wennoah, West Deptford Township, Westville, Williamstown, Woodbury, Woodbury Heights, and Woolwich Township NJ.

Pennsylvania Foreclosure Homes

Buck County, Pennsylvania

Bensalem, Bristol, Buckingham, Chalfont, Churchville, Croydon, Danboro, Doylestown, Dublin, Fairless Hills, Feasterville, Fountainville, Furlong, Hatfield, Hilltown, Holland, Ivyland, Jamison, Langhorne, Levittown, Morrisville, New Hope, Newtown, Perkasie, Quakertown, Richboro, Sellersville, Solebury, Southampton, Springfield, Telford, Trevose, Trumbauersville, upper Makersfield, Warminster, Warrington, Warick, Washington Crossing, Wrightstown, and Yardley PA.

 

Delaware County, PA

Aldan, Ardmore, Aston, Boothwyn, Brookhaven, Broomall, Bryn Mawr, Chadds Ford, Chester, Clifton Heihgts, Collingdale, Colwyn, Crum-Lynne, Darby, Drexel Hill, East Lansdowne, Eddystone, Edgemont, Essington, Folcroft, Folsom, Glen Mills, Glenolden, Haverford, havertown, Holmes, Landsdowne, Linwood, Marcus Hook, Media, Morton, Newtown Square, Norwood, Parkside, Prospect Park, Radnor, Ridley Park, Rose Valley, Secane, Sharon Hill, Springfield, Swarthmore, Trainer, upper Darby, Wallingford, Woodlyn, and Yeadon Pennsylvania.

Montgomery County, PA

Abington, Ambler, Ardmore, Audubon, Bala Cynwyd, Blue Bell, Bridgeport, Bryn Mawr, Cheltenham, Collegeville, Conshohocken, Dresher, Eagleville, East Norriton, Elkins Park, Fairview Village, flourtown, Fort Washington, Franconia, Gladwyne, Glenside, Gwynedd Valley, Harleysville, Hatboro, hatfield, Haverford, Horsham, huntington Valley, Jeffersonville, Jenkintown, King of Prussia, Lafayette Hill, Lansdale, Limerick, Linfield, Lower Gwynedd, Maple Glen, Meadowbrook, Merion Station, Mont Clare, Narberth, Norristown, North Wales, Oreland, Penn Valley, Phoenixville, Plymouth Meeting, Pottstown, Rockledge, Royersford, Rydal, Schwenksville, Skippack, Souderton, Telford, Villanova, Willow Grove, Worcester, Wyncote, Wyndmoor, Wynnewood and Zierlerville Pennsylvania.

Philadelphia County, Pennsylvania

Art Museum Area, Center City, Far Northeast, Germantown, Chestnut Hill, Kensington Area, Lower North, near Northeast, Northern Liberties, Old City, Society Hill, Olney-Oak Lane, Roxborough and Manayunk, South, Southwest, Upper North, West, West-Overbrook.