Foreclosures

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.

Foreclosure Process

The foreclosure process typically follows the same path:

1. The lender files a lawsuit against the borrower.
2. The foreclosed home gets sold to the winning bidder at an auction
3. The lender recovers all monies owed, including the cost of the auction
4. The balance is returned to the borrower

In This Foreclosures Section:

1. Current Foreclosure Market
2. Foreclosure Investment Opportunities
3. The Foreclosure process
4. Buying Pre-Foreclosure Properties
5. Buying Foreclosure Properties
6. Buying HUD Properties
7. Buying Bank REO Properties
8. Hot Foreclosure Zip Codes For 2007

NEXT: The Current Foreclosure Market