Foreclosed housing auctions?

[Steven_K]

is there a reliable source for foreclosed or repossessed housing auctions? If all these homes have been foreclosed due to loan and mortgage defaults, then where are they now. are banks the best way to get listings. would they be willing to sell these homes for cheap? whats the deal here? are tax foreclosed homes a reliable way to get a home?

[Brent]

They can be if you do your homework.  Most states require the mortgage holder to run a notice in the paper as part of the foreclosure process.  This would be the best place to start.  You could also ask your banker.  They will be well aware of the requirements.

[golferwhoworks]

most of these are placed with realtors in your area. Now the county will give you a list of tax delinquent homes that you can bid on and when the bidding will take place

[dyanna]

www.foreclosure.com is a great website to check for houses in your area or whatever area you are interested in. You have to pay to get a complete listing but if you just want to see what is available, you can check that for free on that site. You can search by state, city, or zip code. Some have photos and some even have auction dates and home values listed as well.

[Ed_Atun]

Here in Arizona we have houses that sold for $290,000 in 2006. They are up for sale by banks today for $90,000. Tile roofs and garages. You can drive down the street and see the Bank Owned signs in the front yard.

If you go to the foreclosure auction, you must pay cash. That is why no one bids. The next day the bank puts it up for sale and you can get a loan to buy it; and they will wait 30 days for you to get the loan..