A repossesed home is a home that has been taken back by the lender because the landowner failed to make payments on the mortgage loan. When this happens, the bank often has no choice but to foreclose the home and sell it in a public auction in order to get back the value of the loan. For investors and homebuyers, these auctions can be an unbelievable way to find a repossesed home on sale for prices below market value.
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Select a state in the list below for foreclosure listings of bank foreclosures for sale.