WHAT IS A BANK FORECLOSURE LIST?

A bank foreclosure list, otherwise known as a Real Estate Owned (REO) property list is a list of homes that have gone through the foreclosure process and been repossessed by the bank, normally through the real estate auction process.

Bank foreclosure list inventories are skyrocketing, offering great opportunities for the home buyer to pick up a property at a fraction of what they are worth. It is well known that lenders are not in the business of selling real estate. Lenders loan money to earn revenue for their shareholders. This makes a qualified home buyer in a position to negotiate a good deal on a home.

Bank foreclosure lists are growing and will continue to grow as more and more distressed properties move through the process and are reclaimed by the banks holding that mortgage.

Do you want to know who in your neighborhood is in foreclosure? A bank foreclosure list is an excellent way to gauge your property’s value. It is well known that neighborhoods with many foreclosures can bring down a home’s value.

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