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How do I buy foreclosures directly from the government?

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Question by Bret: How do I buy foreclosures directly from the government?
Do you have to be a real estate broker or agent (and have brokerage license) in order to buy directly from the government? What prices can I expect on foreclosures in our declining economy? I don’t want to pay anything higher than expected in our current economy. Where can obtain the foreclosure listings and other info for free? Please direct me to a proper website that explains all this. Thanks.

Best answer:

Answer by golferwhoworks
hud.gov is the best resource for what you want

Know better? Leave your own answer in the comments!

Jesse Jackson at foreclosure protest in San Francisco
foreclosures

Image by Steve Rhodes

www.rainbowpush.org

www.defendyourdollars.org/topic/mortgages/

Coverage of Jackson’s visit to the bay area

www.nbcbayarea.com/news/local-beat/Jesse-Jackson-on-Forec…

www.mercurynews.com/realestatenews/ci_13362518

Investigative reporting on foreclosures

www.prospect.org/cs/articles?article=there_goes_the_neigh…

www.salon.com/news/feature/2009/03/04/loan_modifications/

An explanation of the mortgage crisis

www.thisamericanlife.org/Radio_Episode.aspx?sched=1242

Michael Moore’s Capitalism: A Love Story which opens 10-2-09 deals with foreclosures. Links on my photos from his visit the day before Jackson’s

www.flickr.com/photos/ari/sets/72157622401887780/

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  • src50

    Lenders foreclose, not “the government.”

  • Jay S

    Start with this site http://www.hud.gov/homes/index.cfm.

  • godged

    The only government owned foreclosures I know of are HUD homes. I have never heard of HUD selling directly to a private person without it being listed with a Realtor.

    Of course you don’t want to overpay, who does?

    Foreclosure websites are notoriously inaccurate, don’t waste your time.

    I always suggest to buyers to consider more than foreclosures. There are plenty of good deals out there, so limiting your search to foreclosures is not a good idea. Plus, lenders can be very challenging to work with, making a home purchase very frustrating.

    Good luck in whatever you decide to do.

  • http://jobdevelopers.net/ Job Developers Networking

    The leader of the Federal Reserve Bank of New York addressed the ongoing saga of mortgage foreclosures, saying “the Federal Reserve actively encourages efforts to find viable alternatives to foreclosure, like loan modifications, or deeds in lieu.” But he added, “we also support due process and access to legal counsel for homeowners facing foreclosure, for instance through legal aid programs.”The central banker offered a positive note on the darkest side of the housing market debacle, saying “our data indicate that, in recent quarters, borrowers are becoming less likely to fall behind on their mortgages, so fewer households are now entering the foreclosure process.”

  • http://www.herbalincensereviews.org Lavern Burritt

    As someone who has been looking into investing in foreclosed properties there’s one factor I’ve taken away throughout this entire process: There are WAY too many people with their mits in the cookie jar in the home buying process.

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