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Via Business Dictionary: Legal process by which a lender cancels (forecloses) a borrower’s right of redemption of the mortgaged property through a court order (called foreclosure order). The court sets a date up to which the borrower can redeem the property by paying off the entire loan balance (including foreclosing expenses). Thereafter, the lender is free to sell the property and, upon the sale, applies the sale proceeds first to the due amount and pays the remainder (if any) to the borrower. The borrower remains liable for the due amount if the property remains unsold, and for the shortfall if the sale proceeds are insufficient to pay off the entire debt.
… America’s largest provider of distressed properties, with more than 1.8 million foreclosure, preforeclosure, bankruptcy and tax lien listings across the United States located conveniently in one place.
deliver the latest, most complete residential foreclosure property listings in an easy, accessible format to our customers and business partners. No other Web site or source comes close to providing the same high level of timely and detailed information than Foreclosure.com.
DID YOU KNOW?
Foreclosure.com provides distressed property statistics to highly respected national media outlets. That’s because our listings and analysis of current — and future — marketplace trends are second to none. High-profile news organizations, some of which are mentioned above, regard Foreclosure.com as the national expert when it comes to reporting on the status of defaulted real estate.
Foreclosure.com is the best in the nation because …
… we are the leading provider of data for many of the top distressed property Web sites on the Internet.
Foreclosure.com gets its listings from …
… hundreds of leading foreclosing lenders and government agencies, as well as an extensive network of corporate sellers, directly. Even still, we use cutting-edge technology to check and double-check this information to ensure that you receive the most trusted, accurate property listings available anywhere.
We are obsessed with providing the freshest listings because timing and accuracy mean everything when it comes to buying a distressed property. Scouring the newspaper for filings and sifting through courthouse records are no longer necessary to capitalize on real estate bargains in today’s hot foreclosure market. You can easily find them right here at Foreclosure.com with the click of a button.
Foreclosure.com offers dynamic products and services …
… that walk first time buyers step-by-step through the process of how to buy a foreclosure. In addition to helpful links, state-specific laws and educational articles, their FREE foreclosure email alerts can deliver listings directly to your inbox so that you can learn about great deals in your area without even searching!
Foreclosure.com boasts an award-winning interface that is easy to search and navigate. You can search potential investments by property type, zip code, city and county — all for an unmatched low-cost guarantee. We make searching easier!