A bank foreclosure occurs when a homeowner defaults on their bank-sponsored home mortgage loan. In order to rectify the outstanding debt, the lending bank will sell the homeowner's property at public auction. Public bank foreclosure auctions are a great forum for homebuyers and real estate investors to purchase property for below its normal market value. Often, a bank foreclosure can be purchased for far less than its true market value, leaving a great deal of room for both savings and potential profit.
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Select a state in the list below for foreclosure listings of bank foreclosures for sale.