Key facts
- ATTOM provides foreclosure data including default notices, auctions, and REO properties.
- Foreclosures are legal processes where lenders take ownership after borrower default.
- The foreclosure process typically involves pre-foreclosure, auction, and REO stages.
- Buyers can find foreclosure listings via MLS, HUD Homestore, bank REO departments, or aggregator sites.
- REO properties are the most accessible type of foreclosure listing for buyers.
Foreclosure data, as provided by ATTOM, includes a range of information such as default notices, auction details, and REO (Real Estate Owned) properties. A foreclosure is a legal procedure initiated by lenders when a borrower fails to meet their loan obligations. This process generally unfolds in distinct stages: pre-foreclosure, where the borrower is in default but the lender has not yet taken possession; auction, where the property is sold to the highest bidder; and REO, where the lender repossesses the property after an unsuccessful auction.
For individuals looking to purchase properties involved in the foreclosure process, several avenues exist. These include listings found on the Multiple Listing Service (MLS), through the HUD Homestore for government-owned properties, directly from bank REO departments, or via aggregator websites that compile such listings. Among these options, REO properties are generally considered the most accessible for potential buyers.
The data provided by ATTOM aims to offer a comprehensive view of these market activities, enabling a better understanding of the foreclosure landscape for various stakeholders, including buyers, lenders, and analysts.