Where to find Bank Owned Foreclosure Properties Online
Where to find bank owned - foreclosure properties
The bank owned homes listed are predominantly owned by large or nationwide banks and are available for viewing online. Once you enter the site you will almost always need to search for properties by the state or town you desire to live in.
Most local banks do not post their foreclosed properties online, for that reason you will either need to walk into or call your local bank and ask if they have a list of reo properties.
REO is a key term when you’re searching for foreclosed homes on the Internet. R.E.O. stands for Real Estate Owned. You will have better luck searching for legitimate foreclosures online if you type in the name of a specific bank followed by the acronym REO.
Properties available on the Fannie Mae website:
Has foreclosed homes available in nearly every state. Fannie Mae also offers special financing options if you meet the qualifications and it has tips on how to close on your home purchase.
Properties available on the Freddie Mac website:
Freddie Mac is very similar to Fannie Mae in that it also has homes in nearly every state. Freddie Mac currently has a special promotion where certain homes qualify for a 2 year warranty.
Note: Freddie Mac and Fannie Mae are separate government entities and therefore it is advisable to search both sites as they will contain different properties.
Properties available on the Bank of America website:
http://bankofamerica.reo.com/search/PropertySearch.aspx
In addition to foreclosure properties the site also offers mortgage tools and calculator.
Properties available on the US Bank website:
http://www.usbank.com/cgi_w/cfm/personal/products_and_services/reoPropertiesReq.cfm
The U.S. Bank website also offers mortgage tools as most of these banks do.
Properties available on the Wells Fargo website:
http://www.pasreo.com/pasreo/public/propertySearch.do
On the side of this website you can find a tab regarding Wells Fargo real estate auctions if you’re interested in buying a house through the auction process.
Properties available on the Citi website:
https://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
Properties available on the GMAC website:
https://www.gmacmortgage.com/reo/search/index.htm
Properties available on the U.S. Department of Housing & Urban Development (HUD) Website:
http://www.hudhomestore.com/HUDHome/Index.aspx?sLanguage=English
On this website homes for sale are listed by state. HUD may also be able to help you finance or make a down payment if you meet their requirements.
There are plenty more banks out there with foreclosed properties, this is just a taste. Use your local phone book to call around and you’re sure to find a home that fits your needs and dreams.
