Bank Foreclosure List

Government Foreclosure Listings--Where They're Hiding

Government foreclosure listings come from homes that were backed by federal funding programs and that later went into default. These government foreclosed properties can be some of the most lucrative deals for investors and some of the cheapest deals for those looking for a primary residence. Many government properties are distressed, meaning they need some cosmetic touch-ups or outright substantial repairs to make them livable, but for the cheap prices they're going for, these extra repair expenses are almost always worth it. A government foreclosure can go for tens of thousands of dollars below market value, making them a real find for anyone who wants a house to live in or invest in.

Most government foreclosure listings are readily available online for free. Just go to the website of the Housing and Urban Development office (HUD) to find huge lists of government foreclosed houses all over the country. Some of these homes are foreclosures from VA loans, others are homes seized for back taxes, and still others may have been taken by the government due to criminal activity by the owners. There are lots of reasons why a house may be foreclosed on by the government. You'll actually find houses for sale that are owned by a variety of government agencies, from the IRS, to the DEA, and even the Department of Transportation!

Most of these houses have been on the market for a while and the government is eager to get them sold. Having someone live in a property and not only pay a sum of money to buy it, but pay property taxes on it, is always better for the government than the house sitting empty and being a drain on taxpayers' wallets. Once a house is sold off the government foreclosure listings, it once again becomes an active and viable contributor to the public finances.

So check out HUD's website for government foreclosure listings and see what you find. You may be surprised at just how cheaply some of these houses can be bought. The site will explain all about the purchasing procedure, as well, and if you have any questions, you can always call your local HUD representative to walk you through the process.