When do the foreclosure process start? The Foreclosure process begins when the homeowner fails to make payments of the money due on the mortgage at the appointed time. This may be due to several reasons. Unemployment, divorce, medical challenges, terms of the loan, sick of property management, and even death.

How many foreclosures available?  FWe have over 650,000 foreclosure listings in our database. Foreclosure numbers are growing daily. Of the one hundred twenty or so million homes in America, more than 4% or roughly 4.8 million of them are facing foreclosure.

Are your listings accurate? Yes. We go through a complete verification process to ensure to our members they are getting complete accurate up to date data.

How are you different from other foreclosure sites? Unlike other foreclosure sites we specialize in helping buyers find great bargains often at 35% - 60% below market value. We go through great measures to ensure our data is up to date and accurate. Our investigation of national foreclosure sites proved useless. Very few foreclosed properties were listed and when they were listed, the data was usually obsolete.

What is a NOD / LIS?  A notice to a borrower with property as security under a mortgage or deed of trust that he/she is delinquent in payments. If the delinquency (money owed and late), plus costs of preparing the legal papers for the default, is not paid within a certain time, foreclosure proceedings may be commenced.

What is a NTS / NFS?  This is the second and final phase of the foreclosure process ( Auction). The notice is prepared and recorded by the foreclosing trustee. It recites the legal description of the property being foreclosed upon and gives the date, time and place of the pending trustee sale. This publication phase has to be a minimum duration of three weeks.

What is a REO?  Real estate owned by a beneficiary/lender because it was not bought by an outside bidder at the trustee sale. The instant that no bids are made at the sale, the foreclosing beneficiary (lender) becomes the owner. He/she now must keep current any loans senior to his/her loan if there are any. The property is now a REPO or R.E.O. (real estate owned).

Is the previous owner's mortgage assumable?  No. The foreclosure process wipes off the previous owners mortgage, so there is nothing left to assume.

What type of financing is available?  Generally a seller is looking for someone who can pay cash or can qualify for new financing.  You can go to the lender of your choice and obtain whatever type of financing you would like.  The condition of the property and the reluctance or inability of the seller to make needed repairs may preclude the availability of some types of financing.  Sometimes the seller will provide the financing with contract for deed financing. You can also use our sponsored finance company.