Foreclosures are still breaking the records as we move along in 2008. Real Estate owned properties are flodding local markets at astonishing rates. So, I decided to help you find those deals.

In part 1 of this 2 part series, I gave you four links to some of the biggest real estate owned sites on the internet. These days, those 4 websites alone can give you hundreds, and maybe even thousands of bank owned houses that you can invest in your local real estate market.

I hear you say that you want more, right? :) Well, no problem. I'll give you more sites in just one minute. Obviously, there are dozens of banks across the country that have houses on their books. If I tried listing them all here, you would probably give up because this hub would get way too long.

One source you can look into has everything including reo properties, foreclosure listing sites, lead generation resources, foreclosure laws for each state and hundreds more internet resources for your real estate business. The best part about that source is that is completely free.

Side Note: The above resource actually gives you internet resources to sites that provide you with current data and not 3-4 week old listings (don't get me started on that because I can't believe how much some of those sites charge for old listings).

So, lets keep going...

REO Internet Resource #5

Citi Mortgage - This is another great website. have you ever heard of Citi? :) I found about 360 listings in my state. Remember, no bank wants to own a house. Banks are in the business of doing loans, not owning and fixing houses. They want to get rid of this bad debt and they'll give you a deal.

Reo Internet Resource #6

U.S. Hud - Ohh year, The U.S. Government. What better place to buy a house from than the government itself :) I know, I know, the economy isn't all that great, U.S. government has more debt than ever, and the number of foreclosed homes just keep on pilling. I searched my state and it returned 5200 homes or 175 pages of listing. Wow!

REO Internet Resource #7

Wells Fargo Home Mortgage - Wells Fargo is another great resource for real estate owned properties. 80 pages of home for my state on this site. It is unbelievable and a little scary. Remember, you'll be helping the economy recover by investing in those house.

So there you have it, seven great resources for real estate owned also known as bank foreclosured homes. As I said earlier, those seven resources will give you dozens of houses in your local market.

But I always like to overdeliver so I decided to give you couple of more internet resources. Here's number 8...

REO Internet Resource #8

IndyMac Bank - You have probably never heard of this bank. As of the time when I wrote this article, this particular bank had couple of hundred houses in California. let me tell you, it was a pretty long web page.

And last but not least...

REO Internet Resource #9

United States Department of Agriculture - You wouldn't think this site would have any foreclosure, but it does. U.S.D.A. has listings throughout the entire United States of America. They also list multi-family properties. So, if you invest in multi-family properties, you can check that site out.

There you have it. Nine internet resource you can use right away to find your next property and even your next home. There is a lot of people out there who say that this is the worst time to buy or invest in real estate. I say that this is one of the best times to invest in real estate.

All in all, it is very sad that there are so many houses listed on those bank owned websites. Why? Because it means that all those houses came from people who lost their house. They couldn't make their payments anymore and had to give up their house to the bank. It's a very sad situation.

I hope it didn't happen to you or someone close to you.

One final note...

Real Estate is local. One area might be struggling, like Detroit who is pretty much leading the foreclosure market and another area might be booming. Real Estate turns over. As history shows, this will turn over and real estate will boom again. How long will that take? It all depends on your local market...

Until next time..

Peter K.