Select A Department:

Courses in this Department

How Ready Are You to Buy a Home?

Determining Your Dream Home and Finding It!

Factory Built Homes Are Worth a Look

Purchase Manufactured Homes with FHA Loan

How to Buy a Foreclosed Home

Pros and Cons of Corner Lots

Know the Neighborhood Before You Buy

Tune in to an Open House on the Radio

Finding a Qualified Broker or Agent

Shopping for a Loan and Choosing a Lender

How to Improve Your Credit

How to Survive the Loan Application Process

Making an Offer and Signing Contracts

Cancel Your Contract in 3 Days

Understanding the Closing/Settlement Process

Choosing Home Inspection and Settlement Professionals

Double Check Your New Home - The Walkthrough

Know Your Consumer Rights

Seniors Have Many Housing Opportunities

Preparing for the Big Day -- Relocating Moving

Make Your Home Your Castle - Cost Effective Redecorating Ideas


How to Begin

Where to look.

Where Do I Find Foreclosure Sales?
The Sources.

Foreclosed or distressed properties are available from several sources, including Fannie Mae, Freddie Mac, HUD, VA and FDIC.

What You Will Find
What Types of Homes are Available?

It depends on the source. You're not likely to find HUD or VA homes in affluent or expensive areas. But many of them are in nice neighborhoods where the cost of housing isn't as high. Most agencies offer a wide selection of homes, including single-family homes, condominiums, and town houses, located in a variety of neighborhoods.

Many of these homes are relatively new, others are not so new. Some may require repairs.

How Do I Find Them?
Is there a listing anywhere?

Some foreclosure sales are not listed on the Multiple Listing Service (MLS). Fannie Mae advertises on the MLS, but HUD does not. So you need to know where to look. You can find out from a local real estate broker but make sure you're working through a broker who knows about foreclosure sales. Ask if he or she has ever handled one before.

Unfortunately, many agents are not active in the foreclosure market, even though it represents 30 percent of the real estate market in most cities. Check with an agent about their experiences before you start working with them.

Look It Up Yourself...
On the Web!

Fortunately, Fannie Mae, Freddie Mac, HUD, VA and other organizations maintain searchable databases on the Internet, so you can do some preliminary shopping to find out what homes available, right from your computer.

That's WHERE to Find Foreclosure Sales

Let's go shopping and learn HOW to purchase a foreclosed home!

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