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Foreclosure/Bank-Owned Real Estate

Hunstville Foreclosures and Bank-Owned Properties

Bank owned properties, or foreclosures occur when the home owner defaults on the mortgage payments of their home. In turn, the lender can seize the property and sell it as stated in the mortgage contract, and the owner loses title of the home.   Proceeds from a foreclosure sale go towards mortgage debt and foreclosure expenses. There are three types of foreclosures: Conventional foreclosures, HUD Foreclosures and VA Foreclosures.

Typically foreclosures are priced below market value, so buyers could find a good deal on a foreclosed home. Foreclosures might be found in a bit of disrepair and are typically sold as is, but foreclosures could prove be a great investment for those who are willing to put a little bit of work into the property. Sound like something you’re interested in but want more information? Contact us through the form or call us (256-799-9000).

Interested in Huntsville short sales too? Here’s the current list of short sales on the market.

See All Huntsville AL Foreclosures

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