Several unique terms and phrases describe the features of services we review on this site, some easier to grasp than others. This list briefly defines terms relevant to Foreclosure Listing Services.

Ratings

Listing Information

This is the information provided by the foreclosure service to inform the potential buyer or investor about the property. Frequently it will include information about the property like price, beds, baths and square footage. In addition, many services list the property’s foreclosure status, tax information and loan information.

Additional Tools

Buying foreclosed properties can be a tricky business. Many online listing services will include articles and additional information about buying and investing in foreclosures. Additionally, some will include school and neighborhood demographics for each property listed.

Customer Service

This section includes the listing service’s help/support like, email and telephone contact, as well as the site’s security and cancellation policy. Almost all foreclosure listing services require a credit card and should include a security certificate and https protection during all functions of the sign up process.

Types of Listings

Foreclosures

A piece of property that has been repossessed by the bank or lender because the owner has failed to pay the correct payments on time. Sometimes refereed to as REO or a repo.

Preforeclosures

Properties where the owner has skipped one or more payments and the bank or lender has begun the process of foreclosure. These are usually known as Notice of Default.

Government

These are homes where the government holds the loan and has repossessed the property because of failure to pay. These loans are typically issued by HUD, VA or Fannie Mae.

FSBO/Resell

The foreclosure listing service also incorporates homes listed by the owner directly or a traditional real estate resell.

Auctions

The foreclosure site lists homes that are currently at, or soon will be, auctioned.

Tax Liens

The site lists homes that have tax liens against them due to unpaid taxes by the homeowner.

Bankruptcies

The foreclosure listing service includes property sold by those who have filed for bankruptcy.

Search Features

Listing Type

You can search for properties depending on their listings like foreclosure, preforeclosure or for sale by owner.

City

You can search for properties in a specific city.

Zip Code

You have the ability to search for properties in a specific zip code.

State

The listing service can search for properties by state.

County

You can search for properties by county.

Bedrooms

You can narrow your results by the number of bedrooms in each property.

Bathrooms

You can search for homes with a certain number of bathrooms.

Price Range

You can narrow your results by entering a price range into your search.

Propterty Type

You can search for specific property types like single-family homes or townhouses.

Listings in All 50 States

The foreclosure listing service allows you to search for properties in all fifty states.

Listings in DC

The listing service lists properties in Washington D.C.

Listings in Puerto Rico

You can search for foreclosed properties in Puerto Rico.

Provides Number of County/ City Listings

The website displays the number of foreclosures, preforeclosures etc. available in your selected county or city.

Listed Details

Status

The results display if the property is a REO, FSBO or which stage of preforeclosure it is in such as Notice of Default or Notice of Sale.

Publication Date/ Recorded Date

The website displays the date the property was posted.

Property ID

Details include the property's identification number.

Price

The listing service includes the property's price.

Picture

The website includes a picture of the listed property where available.

Full Address

The website displays the property's full address.

Map

The foreclosure listing service includes a map feature to locate a specific property or various properties in the area. Many will use Google Earth or Yahoo! Maps.

Other common details include:

• City
• State
• County
• Zip Code
• Property Type like single family home, mobile home or townhome.
• Lot Size
• Bedrooms
• Bathrooms
• Sq. Feet
• Year Built

Equity Percentage

The foreclosure service includes the estimated percentage of equity already in the home.

Loan Information

Details include information about the loan including the amount, date and value.

Default Amount

Details include information about the loan including the amount, date and value.

Legal Information

The service includes legal information like the name of the trustee.

Tax Information

The listing service includes information about the property's taxes.

Assessed Value

The listing includes the assessed value of the property.

Seller/ Listing Information

Listed details include contact information like name, phone number and agent.

Auction Information

Detailed information includes the property's auction information.

Sales History

The site includes the property's sales history.

Additional Tools

Listing Alerts

You can sign up for email alerts every time the listing service updates their database.

Informational Articles

The foreclosure listing website includes articles related to foreclosure properties or investing.

How To Information

The website has articles or a step-by-step guide to buying a foreclosed property.

State Specific Laws

The website has information regarding foreclosure laws in various states.

Community Demographics

The listing service includes neighborhood demographics in relation to your search.

School Information

The information about surrounding schools is included with property searches or zip code.

Calculators

The listing service includes at least one calculator, usually a mortgage calculator.

Crime Report

In addition to community and school information, the foreclosure listing service provides statistics and demographics about an area's crime rate. Sometimes this is included in the community information section.

Find a Realtor

The listing service can suggest a realtor in your area.

Cancellation Method

These are the methods in which the foreclosure listing service allows members to cancel their membership through:

Membership Account

You can cancel your account by logging into your account and selecting cancel subscription.

Cancellation Page

The foreclosure listing service has a specific page on their website dedicated solely to cancellations. You must use this form, or page to cancel your account.

Email

You can email the listing service and request your subscription be terminated.

Telephone

You can cancel your service over the phone without a penalty fee.

Fax

You can request a cancellation through faxing the listing service. This usually must be done five days before your subscription renews.

Snail Mail

The online foreclosure listing service allows you to cancel your membership through postal mail. Usually your letter needs to arrive at least ten days before your monthly renewal.

Valid Security Certificate

All of these sites require credit card information. To ensure your personal information is safe, online businesses use encryption methods and are issued a security certificate.

HTTPS Secure

This is a simple test for security. If the URL has an "https://" code then the site is relatively secure. From there you can see if the site has a current and valid security certificate.

Telephone Support

The foreclosure listing service provides a phone number for customer support.

Email Support

You can contact the listing service through a provided email address or ticket system.

Online Help/ Tutorial

The listing service provides an online help manual or tutorial to teach or help you understand the process.

FAQ

The listing service has a frequently asked questions section addressing many common questions and concerns.

Blog

The foreclosure listing service has a blog that usually includes articles and antidotes about investing.

Live Chat

The foreclosure site provides live chat support.

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