How To Find Foreclosure Listings Cary NC

So you want to know how to discover information on foreclosures. Hey! It’s on TV and there is easy money to be made, according to the info-commercial. Well for the price of FREE, here is how you can find the information. First a few basic facts:

• A home enters the foreclosure market when the previous owner no longer pays on their debt established in the promissory "note" and the new owner obtains possession (usually the lending or guaranteeing organization) and markets the home for sale.
• A mortgage, the promise of the previous owner to "pay" or "not stay" secures the debt for the lender.
• Both the note and mortgage are publicly recorded documents providing constructive notice.

Here's how to find foreclosure listings.

1. Accessing the VA-listed properties. You can access properties on the Ocwen site, which has the contract with the Federal Government to market their "VA" properties along with a few others. Choose between Commercial, Residential properties, and VA properties. The latter two selections will take you to a US map where you select the particular state in which you desire to look. Properties are listed alphabetically by city with information on each property. By further clicking on the house you desire, more information will be provided.
2. Accessing the HUD list of properties. You have just scratched the surface. Next step, you can access additional government-owned properties by accessing the HUD (US Department of Housing and Urban Development) website. By clicking on the first link, "FROM HUD", you will be taken to another list of states. By clicking on the state of your interest, you will be taken to the contractor that HUD uses for the particular state and your broker/agent would work through them to purchase a home (i.e. for the state of Alabama, the contractor is Hooks Van Holmes Inc.)....

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Author: Jim VanErmen