Utilizing Foreclosure Sites for Property Search

Utilizing Foreclosure Sites for Property Search

Foreclosure Sites

If you’re looking for foreclosure sites for sale or house flipping purposes, these websites will guide you through purchase foreclosures.

History

You might recall that foreclosures were a huge part of the Great Recession. As the economy suffered, foreclosure filings were on a rise. In the first months of 2010 alone, 1.65 million US properties were foreclosed, according to reports from ATTOM Data Solutions, the database property supplier.

Ten years in the future, the question is will the COVID-19 pandemic lead to a series of foreclosures? This could suggest plenty of hardship, but also a possibility for investors to turn home for profit as more workers in America switch to remote full-time jobs, usually in cities and towns that are less expensive.

The CARES Act

The CARES Act is one of the continuous efforts to ease the impact of the pandemic on the economy – it has slowed down the foreclosure process, especially for properties with federally backed mortgages. However, this does not apply to lenders or servicers of loans that aren’t backed by the government through state laws.

You can consider buying and flipping foreclosed houses if you are trying to build a home-selling business. It goes after the maxim of buying low and selling high: buying a foreclosed home cheaply, then making the necessary improvements, and finally selling at the market value or above.

As much as 11,700 US properties filed for foreclosure – default notices, scheduled auctions, or bank repossessions – in October, up 20 percent from the previous month. The list of countries with the highest foreclosure ratings in October was South Carolina, Alabama, Nebraska, Florida, and Louisiana, ATTOM Data Solutions reports.

Final Note on Foreclosure Sites

Are you looking for foreclosures near you? Get the needed information from your county, town, or city. They may recommend foreclosure sites or other tools for listing local foreclosures. There is already a wide range of online resources for finding foreclosures that include most major banks, among others.