Foreclosure Listings NJ—Where Do All Foreclosed Homes End Up?

Do all foreclosed homes in New Jersey end up in the foreclosure listings NJ? You might be surprised but not all foreclosed homes end up in the foreclosure list because this is just a snapshot of those homes that are being sold by the current lien holder.

Where to Find Foreclosure Listings NJ?

When looking for foreclosure listings NJ, there are a few places where you can look. Since these are all snapshots, they may vary in their listings and by combining them, you may be able to find what you’re looking for.

Foreclosure listings NJ

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1. Listings from private foreclosures

When researching for foreclosure listings, try to take a look at who is making the list. If for example, you find the name of a certain bank on the list, then there is a good chance that the home is now owned by the bank. The same principle holds true for realtor’s foreclosure list because an agent could be working for a bank on commission.

2. Pre-foreclosure listings

Homes that are on short sale may appear on pre-foreclosure listings. If you are looking to buy a property, this is the better option because while foreclosed homes may go unoccupied for months, pre-foreclosure homes are usually well maintained.

3. Mortgages buyout

There are a lot of private investors who are willing to buy mortgages on foreclosure, bankruptcy or mere default. They would usually buy properties before they hit the auction sale which means that you will not have access to these properties outside of their listings. Their listings are a good place to look at if you are looking for a place to rent because these investors are likely to rent out these properties.

4. Foreclosure auction

When the property goes to auction, it will be in the foreclosure listings. This will usually be in a public facility where home buyers and investors will go to find and buy low-value homes. This can be an intimidating experience if you are a newbie home buyer so make sure you are with somebody familiar with the process.

5. Subordinate lien holders

When there are many mortgages on a home and there are many lien holders on a property, this can prevent it from getting to the foreclosure listings. Check subordinate lien holder listings for more options.

These are the places where you can find foreclosure listings NJ. Depending on your purpose, you can use this combined information to find what you’re looking for in the New Jersey area.

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