VA foreclosure listings are a smart place to look for homes in Virginia for reasonable prices. The rate of homes being foreclosed is at an all time high today. This has been attributed to the sometimes-shaky economy, the high cost of living, high interest rates and the high cost of homes. Although many of these factors fluctuate, they’ve been too insecure to allow many individuals to plunge into debt purchasing a home. Virginia, in itself, has a very high cost of living with homes being very expensive, so the number of VA foreclosure listings continues to increase every day.
Many sites online will give you free VA foreclosure listings. Many of these are available for all the states, however, if you are interested only in VA foreclosure listings, these are available as well. There are many REO (Real Estate Owned) homes for sale in these listings. You’ll be amazed at the many different styles and sizes available in these listings. Mostly, you’re going to be surprised at the high number of homes that are in foreclosure in Virginia.
Young couples hoping to make their home in Virginia are finding it very difficult to find affordable homes there to purchase. This is a major reason why the VA foreclosure listings are so full of homes. Couples may find it possible to purchase the home, but aren’t able to continue to make the large payments necessary to fulfill the mortgage agreements on these expensive homes.
When the process of home foreclosure begins, the homeowner is sent a Notice of Intent, informing them of a court date to be within thirty days of the date of letter. At the court, there will be a date set for the auction of the house. The bank will publicize the auction date in local newspapers so the public is aware of the foreclosure sale.
The Virginia newspapers are another place to look for VA foreclosure listings. Keep in mind, however, that these listings will be taking place within the next thirty days. Therefore, if you’re interested in purchasing any of these homes, you need to speak with an attorney or lending institutions about all the details this will involve.
You local real estate agency will also have VA foreclosure listings as well. Lenders will often list homes with real estate agencies if they choose to sell the home rather than put it at public auction. As you can see, if you’re interested in purchasing a foreclosed home in Virginia at a reduced cost, there are places you can find VA foreclosure listings.