A foreclosure is when a borrower defaults on a home loan, and the property
is auctioned by the lender to recover the loan debt.
Buying foreclosed homes is a great way to either save money when buying
a home or to invest in real estate.
The foreclosure process typically follows the same path:
- The lender files a lawsuit against the borrower.
- The foreclosed home gets sold to the winning bidder at an auction
- The lender recovers all monies owed, including the cost of the auction
- The balance is returned to the borrower
In This Foreclosures Section:
- Current Foreclosure Market
- Foreclosure Investment
- The Foreclosure process
- Buying Pre-Foreclosure
- Buying Foreclosure Properties
- Buying HUD Properties
- Buying Bank REO Properties
- Hot Foreclosure Zip Codes For
NEXT: The Current Foreclosure