subject: 4 Free Foreclosure List And Free Foreclosure Listing Strategies You Must Learn [print this page] Free foreclosure lists are one simple way to find cheap houses. It doesn't matter if you are searching for fix and flip houses, rental properties or even various other good real estate purchases, free foreclosure listings are great methods to begin your search. When you are searching for free foreclosure lists, there are a few things you have to consider so that your efforts are worth it.
Every free foreclosure listing as well as every free foreclosure list is potentially somewhat different. And, you will find basically four types of free foreclosure lists you will come across when you start researching.Probably the most important things that you should understand when you find your list is what type of free foreclosure list you have. This is very important because laws change based on what list you are looking at. So, let me just jump right in and teach you the four different types of free foreclosure listings that you are going to find.
List 1: The Free Foreclosure List Before The Filing Date
The first free foreclosure list is what I will label pre-foreclosure before the filing date since the properties within this list happen to be essentially posted before the initial foreclosure filing is done. There is no paperwork submitted from the lender at this time. The homeowners of the house might be behind on the payments and things are most likely not looking great in financial terms for them but they are not to the stage of getting the Notice of Election and Demand submitted. This is one of several types of free foreclosure lists that you will discover while searching.
List 2: The Free Foreclosure List After The Filing Date
The second set of free foreclosure listings will be listed after the filing day. When the bank has obtained an action to file the Notice of Election and Demand, the free foreclosure list moves to what I would describe as a pre-foreclosure after the filing day. At this moment, a lot of things change when you are getting a property foreclosure list that is in this specific time frame. It is really an important detail to know simply because by law, among states, what you are able do to address the homeowners money problems at this point of time differs dramatically. This is the second kind of free foreclosure list that you are likely to locate.
List 3: The Free Foreclosure List At The Sale
The 3rd list is what I would call the sale date foreclosure list. This is the list of homes schedule for foreclosure by the public trustee or county. This foreclosure list can be obtained at the point in time when the bank has gone through the complete process and has eliminated all of their options apart from foreclosure but now the foreclosure has become almost unavoidable. There is a date fixed with the public trustee or county and the house is in fact destined to be sold at the foreclosure sale. This kind of free foreclosure list is actually during that period following the filing date but prior to the specific foreclosure date.
List 4: The Free Foreclosure List After The Sale
Finally, the 4th free foreclosure list you will see, and you should find these types of free foreclosure listings in almost every area across the country, is following the foreclosure sale itself. This kind of list is called bank owned properties or even REO. So the 4th free foreclosure listing group that you are likely to locate tend to be bank owned properties. The foreclosure has taken place and after this the homes are actually owned by the bank.
So if you are looking for free foreclosure listings, these will be the 4 various kinds of free foreclosure lists that are out there that you can get a hold of. Use this knowledge to locate greatly discounted properties which you can buy for great real estate investments.
