Foreclosure listings

Just_learning · 04-25-2006, 06:50 AM

By any chance, do any Ifishers out there have an idea where a good place to get foreclosure listings for cheap properties to either buy or invest in? I have been looking and have only found places that will let you have access to listings for a fee. Are there any free federal sites?

ANy help would be great.
Thanks.

bcanini · 04-25-2006, 07:09 AM

Talk to the local Title companies! they have a ton of info.
Also look imto trustee services Northwest trusees site is a good one. They do a lot of foreclosure auctions at the courthouses. Most of it is public record.
One thing about foreclosures is if you don't get to them before they go to the county steps is you usually have to have cash or a cashiers check to bid on them, no financing.
Hope it helps.

Brian

EULACHON · 04-25-2006, 06:05 PM

Public records in the local paper will tell you when they are going to be auctioned.

Paul

04-25-2006, 07:04 PM

I'm probably going to get flamed for this comment but I have a real hard time when people capitalize on someone else's misfortune. I think it's immoral

So if you want to scorch me go right ahead but I could not live with myself benefiting on someone else's misery.
Yeah I know that it's the nature of the real estate market and some people who cannot make their mortgage payments are without excuse but there are plenty out there who have legitimate reasons for their hardships.
Just my opinion

duckboy · 04-25-2006, 07:19 PM

Just be certain that if you go to the auctions at the court house steps, that you are not buying the previous owners old mortgage out without first knowing how many other mortgages lie in await and arrears under the first one.

pearl · 04-25-2006, 08:42 PM

Daily Journal of Commerce. It's published 3 times a week here in PDX. It has all the public notice's for Mult, Wash and Clack Counties.

Not sure there are any good deals anymore. 98% of the homes being repossessed have been owned for less then 5 years and have no equity attached to them. The note owed is about the same as the appraised value. The folks that are losing them typically bought more home then they could afford in the first place. there are always exceptions though.

You might also try the H.U.D website as well.

sinker · 04-26-2006, 04:02 AM

Stew,
For a while I was buying storage units up at auction and faced the same dilemna. But them I got to looking around at everyone else at the auctions and realized that if I weren't buying it someone else would be.

Same as the houses. Once it hits the auction block those people have no chance at all to get it back. Hopefully with enough bidders they'll go for enough they don't lose their shirt to bad.