Free Foreclosure Listings

Written on July 15, 2009

Free Foreclosure
Listings

There are web sites that offer free foreclosure listings. This is a
valuable resource when looking to save money by purchasing a foreclosed
home. Most foreclosed homes are not listed as such on a standard real
estate listing. These free foreclosure listings save valuable time when
trying to locate the foreclosed
properties in a given area. Because they have only foreclosed homes
listed, most of the locating work has been done for you. By deciding to
purchase a foreclosed home at a lower than value price, you have
decided that saving money is important. That is the same with finding
the home using free foreclosure listings. Most paying sites do offer
free trial periods. This allows you to access the same information as
the paying member but for a limited period of time. You can gather a
lot of valuable information and locations of these foreclosed homes in
a few days. The drawback of relying on the free trial period is that
new homes are added to the list daily. By having a limited time period,
you may miss listings that interest you after your trial period
expires. Most sites require that you enter credit card information upon
registering for your free trial. If you do not actively cancel your
registration at the end of the trial period, your credit card will
automatically be charged. Many people access multiple sites and take
advantage of the free trial period of more than one of these. Some of
these different sites are hosted by the same company, so caution must
be used when doing this. If you encounter a few of these sites, your
free trial period may be denied. It is possible to have access to these
free foreclosure listings, however caution must be used or you will end
up paying for the service. Homes with FHA insured mortgages that end in
foreclosure become property of the government. The US Department of
Housing and Urban Development (HUD) handles the sale of these homes.
There are web sites that offer free foreclosure listings consisting
only of HUD houses. Since these homes are owned by the government, the
listings are available to the general public for free. HUD also offers
additional incentives to home buyers that are in certain occupations.
As part of the Good Neighbor plan, police officers, fire fighters,
teachers, and emergency medical technicians can purchase these homes
for an additional 50% off the asking price. This program helps to bring
revitalization to neighborhoods by bringing in good neighbors.
When considering purchasing a foreclosed home, it is imperative that
you check out free foreclosure listings. Having a comprehensive list of
available properties in a given area makes the process of purchasing
one of these homes significantly easier. When these lists are able to
be accessed for free, it becomes more valuable. foreclosure