Key facts
- ATTOM offers extensive nationwide pre-foreclosure and foreclosure records.
- Foreclosure data includes default notices, auction details, and REO properties.
- The foreclosure process involves pre-foreclosure, auction, and Real Estate Owned (REO) stages.
- REO properties are the most accessible for buyers, allowing standard financing and inspection.
- Key sources for foreclosure listings are the MLS, HUD Homestore, and bank REO departments.
ATTOM provides comprehensive foreclosure data, detailing pre-foreclosure notices, auction information, and Real Estate Owned (REO) properties. Foreclosure is a legal process initiated by lenders when borrowers default on mortgage payments. This process typically unfolds in three stages: pre-foreclosure, where default notices are issued; auction, where the property is sold to the highest bidder; and REO, where the lender repossesses the property if it doesn't sell at auction. REO properties are generally the most accessible for buyers, as they can be purchased with standard financing and undergo inspections. Reliable sources for finding foreclosure listings include the Multiple Listing Service (MLS) via an agent, the HUD Homestore for government-owned properties, and direct REO listing pages from major banks. Foreclosure aggregator websites compile data from various sources but may contain outdated information. Buyers are advised to conduct thorough due diligence on foreclosure properties, as they are often sold 'as-is' and may have title issues or require significant repairs.