For a Free List of Foreclosures e-mailed or faxed to you each week call Mike Woods or Sheila at (708) 213-6095 or 708-233-2630.
This is a special condensed list of HUD, VA, Fannie Mae and other Bank Foreclosures, automatically sent to you each Friday.
View many of the foreclosures online for HUD and Other Bank Foreclosures.
Then drive by those you may be interested in.
Call me if you would like to see inside any of the HUD homes or other Foreclosures.
Click here to view HUD, VA, & Other Bank Foreclosures homes Show Me The Foreclosures
Click here to view Tax Sale Properties Show Me Tax Deeds & Certificates.

Regardless of whether you're buying your first home to live in, upgrading to a bigger and better home, or purchasing investment property for additional income and tax shelter, you will find that you may be able to save thousands of dollars on your purchase price and reduce your monthly payments by hundreds of dollars when buying foreclosed properties.

Some foreclosures are cleverly disguised under different titles to lessen the effect or perception that these properties have been foreclosed upon. As an example, bank foreclosures are called R.E.O'S (Real Estate Owned); the V.A has called their foreclosures 'Acquired Homes' and HUD/FHA foreclosures are referred to as Government Owned Properties.

It's very unfortunate when someone loses their home to a foreclosure procedure, regardless of most circumstances. Properties become foreclosed upon for a variety of reasons. Some of the more common reasons are death, divorce, loss of ones job, excessive debt and unable to meet monthly payments, or for non-payment of taxes.

Foreclosed real estate such as single family homes, apartment buildings and commercial property may be bought any where from 10% to 50% (or more) below market price. It's not uncommon to obtain a foreclosed house appraised at $100,000 for $60,000 to $80,000. The condition of the properties range from surprisingly good to very bad.

No matter what major city you are located near, you can always find a good bargain on foreclosures. Here is a list of 10 of the most common types of foreclosed properties that are worthy of looking into.

If you would like a condensed fax copy of the first four types of foreclosures below, contact me (via email or phone) and leave your fax number. The first four types of foreclosures below, are the easiest to acquire. They are readily available, you can view information (and sometimes a picture) online, and the financing is easier to obtain with conventional and occassionaly FHA financing.

1. HUD / FHA ' homes that were insured by the Federal Housing Authority (under the wings of Housing and Urban Development) that have been repossessed primarily for non payment are usually the most abundant and available each week. HMB INC. updates the majority of their listings each Friday on their website (HMB Inc.). The homes can be viewed online by anyone and submitted for purchase through participating Realtors. Watch for homes that are listed as Major Price Reductions for an additional savings of 10% to 30% or more. In most major cities, HUD also has special incentives through their Officer & Teacher Next Door program whereby police officers, certified teachers, ambulance drivers and firemen (or firewomen) can obtain homes for about 50% from the listed price. HUD has other incentives such as paying up to 5% for your closing costs and properties that have not sold which are offered to various cities for additional savings. Make sure you are using a Realtor, who is familiar with all of the HUD programs and that can advise you of the best way to structure your bid so as to get the highest net value to HUD for a winning bid. Mike Woods can place those b

If you are interested in any of these properties I will be able to assist you in placing a bid or contract on these properties. You can buy Tax Deed or Tax Certificates. The tax deed properties are available from Urban Visions and (other investors who acquire them from the tax sale). The tax deeds have already been purchased and are available for sale to you. The Tax Certificates entitles you to purchase a "Tax Lien" which entitles you to obtain the tax deed, provided you follow specific steps for acquisition. You will need an attorney who specializes in Tax Certificates and Deeds to complete your acquistion. There are additional costs involved of which the attorney can advise you of.

For the Auction Properties (offered by Urban Vision)- they may be submited by me via the internet as a sealed bid. A Real estate sales contract will also be needed. The minimum earnest money required is $2,000. Alternative Seller Financing is also available (if you are unable to obtain your own financing - due to the condition of the property) with 20% down, 12% interest, 20 year amortization and a 3 year ballon. For more detailed information please contact me via email or call at 708-213-6095 or 708-233-2630. To view properties online, you may go directly to Urban Visions website (Property Search). Or you can sign on to their website 'UrbanVisions Inc' and then go to "Property Search". After finding the properties that may interest you, contact me to see any of these properties or for placing a bid or contract.

Click here to view Available Properties for Illinois.
As of January 2004, V.A. no longer handles the sale of their foreclosures. The V.A. still offers foreclosures, however, it is now handled and administered by OCWEN Financial Corp. Their website is OCWEN.COM. These properties are now assigned to various Real Estate Companies and can be viewed by appointment with a Licensed Real Estate Agent. Call me at 708-213-6095 or 708-233-2630 to see VA homes and other Bank Foreclosures.