: Searching for "Notice of Default" filings in public records allows you to find pre-foreclosures before they hit the open market. Comparison of Foreclosure Buying Methods Risk Level Ease of Purchase Auction Courthouse / Auction.com High (Cash only, sight unseen) REO (Bank) Bank Websites / MLS Moderate (Sold "as-is" but title is clear) Gov-Owned HUD / Fannie Mae Low (Priority for residents) Pre-Foreclosure Public Records Varies (Requires negotiating with owner) How to buy a foreclosed home - Bank of America Foreclosures
: Searchable database of Bank of America’s foreclosure inventory. best place to buy foreclosures
: Similar to HomePath, offering foreclosure listings and occasionally special financing with lower down payments. 3. Direct from Banks (REO Properties) : Searching for "Notice of Default" filings in
When a property fails to sell at auction, the bank takes ownership. These are called properties. You can find them on the banks' own real estate centers: You can find them on the banks' own
: In many states, banks must publish foreclosure notices in local papers for several weeks before an auction.