List of Distressed Homes

When you look at a list of distressed homes you will find many things if they have not gone to the auction house yet. The first thing you will learn is where the auction is going to take place to sell the distressed homes listings. It will list the time, date, and location the county courthouse plans to auction off the list of distressed homes. Some may be on different dates but this will help you if any of the houses on the lists are ones that you might be interested in buying.

Distressed home listings often give you the name of the borrower in default and the lender. It is common for some investors to step in before the houses actually are deemed foreclosures and make it to the auction by purchasing it before the set date. This saves the borrower from having a foreclosure on their credit and it saves the bank from having a default on their list of distressed homes. Most borrowers are more than willing to work with you to save their credit. Many borrowers don’t even think about selling their home prior to the auction. This is because they are so embarrassed that they are losing their house they avoid the lender’s phone calls and they won’t talk to anyone to find out what their options are. Always contact the lender on distressed home listings if you would like to purchase a house before it makes it to the auction. This could get you a home that will make you a lot of money.