A high loan-to-value ratio increases the likelihood that the property will not receive any bids and will therefore revert to the lender. In the real estate market, bank-owned REOs can be a fantastic bargain. They, too, can dish up some real duds, so it pays to do your homework.

Website:

• Bank of America REO: https://foreclosures.bankofamerica.com/
  
• CitiMortgage REO: https://citimortgage.res.net/
  
• Fifth Third Bank REO: https://53.res.net/
  
• Huntington REO: http://www.hnbrealestate4sale.com/us/index.php
• PNC Financial Services REO: https://www.pnc.com/en/about-pnc/company-profile/pnc-realty-services.html
  
• SunTrust Mortgage REO: http://suntrust.res.net/
  
• Wells Fargo REO: https://reo.wellsfargo.com/Home-Search.aspx

Foreclosed properties are often owned by parties other than banks and property lenders. Real estate owned (REO), foreclosed homes, and other properties acquired by the government can be found in a large inventory thanks to loan guarantee programmes like the Federal Housing Administration's and the Veterans Affairs Administration's. The properties can be purchased through regular channels, such as private deals and auctions.

Furthermore, your local government probably has its own list of properties that are in foreclosure. If you can't find it online, you'll need to visit your local county or city clerk.There are a lot of them at:

Website:

• HomePath—Fannie Mae-owned foreclosures : https://www.homepath.com/
  
• HUD REO—Housing and Urban Development-owned real estate : https://www.hud.gov/program_offices/housing/sfh/reo
  
• HomeSales—Government-owned foreclosures and seizures : https://homesales.gov/
  
• USDA-RD/FSA—Rural Development and Farm Service Agency REOs : https://www.resales.usda.gov/resales/public/home
  
• IRS properties—Homes, real estate, and other property that has been seized by the IRS : https://www.treasury.gov/auctions/irs/

Some companies offer searchable databases of foreclosed homes, REOs, and other types of troubled real estate. Some sites offer the listings at no cost, while others require a paid subscription to access the database.

Even if you don't have a subscription, you should be able to access the property's basic details. Subscribers, however, usually have access to a great deal more specific information about the status of properties, including conditions, histories, and concerns.

Website:

• RealtyTrac REO—Free trial, then monthly subscription: http://www.realtytrac.com/mapsearch/bank-owned-properties/
  
• Foreclosure Listings—Seven-day trial, then monthly or annual subscription: https://www.foreclosurelistings.com/
  
• Foreclosure.com—Free trial, then weekly subscription: https://www.foreclosure.com/
  
• Equator—Free, with the ability to save searches and properties, access maps, and more: https://www.equator.com/

Real estate salespeople no longer need to keep information regarding REOs, short sales, and other types of troubled homes under wraps. Including such listings in a property catalogue is now a standard marketing strategy. That's why most real estate companies provide searchable online databases of foreclosed homes:

• Access to Realtor.com's property search engine is free of charge. Realtor.com is the authorised home of the National Association of Realtors. Foreclosures, recently reduced houses, and affordable homes in the area of your choice are all easily filtered out with the click of a button. You'll also get up-to-date information and analysis on foreclosed homes.
  
• Trulia provides a user-friendly search engine with a foreclosure filter that is already set up for you. Start with a standard town-based search on Trulia, and then click the "More" drop-down menu and choose "Foreclosures" from the list of sales listing types.
  
• Zillow - Here you'll find a foreclosure hub with access to sophisticated search options such as searching by price (or estimated price), area, and more. Zillow also provides buying advice, frequently asked questions, and a guide for people who may be facing foreclosure.

Website:

• Realtor.com: https://www.realtor.com/foreclosure
  
• Trulia: https://www.trulia.com/
  
• Zillow: https://www.zillow.com/foreclosures/