Houston Foreclosures
As of late I have seen more and more people land here at Houston housing market by way of Google searches for Houston foreclosures. This has told me that many people are interested in obtaining this information and so I have decided to do a series of posts that will plot Houston, Tx foreclosures on a Google interactive map for different price ranges. These maps will update everyday with all the Houston, Texas foreclosures listed by every real estate company in the Houston metro area. In addition to providing the Houston foreclosure listings I will briefly explain the Houston foreclosure process. If you only want to research those properties available for sale just scroll to the bottom of this post and you will find them in a Google map.
Houston Foreclosure
There are basically three stages of the overall foreclosure process that have the properties lumped together. The first being the initial default stage. This is when a property owner has been three or more months late on making their mortgage payment. In this stage the lender files a notice of default which makes the whole loan due immediately and gives the property owner a certain number of days to come forth with the money owed to catch the loan up or have the property foreclosed on. Once this paper work has been filed a final notice giving a trustee’s sale date is delivered to the property owner. The period following the delivery of this notice and prior to the trustee’s sale date is known as pre-foreclosure.
Homes that are listed on the market that are in the pre-foreclosure stage are often referred to as Short Sales. The use of the term short sale is frequently missed used as meaning all pre-foreclosure properties but this is not its correct usage. The correct use of short sale is to describe property owners that owe more on the property than the proceeds from a sale will garner. Although the miss use of this term came about because most properties that reach the MLS that are in pre-foreclosure, are in a short sale situation.
The third stage comes after the trustee’s sale or auction. This stage is known as the REO stage. REO stands for real estate owned and is the term used by the bank for properties that did not sell at auction for more than was owned on them so the lending institution purchases them to protect their loan interests. Properties of this type are referred to as REO foreclosures and are the majority of the Houston foreclosure listings found in the MLS. If you are thinking of purchasing any of these type of properties I would suggest that you read one of my previous posts on how to protect yourself from ending up with a lemon when buying a foreclosure.
Google Interactive Map Plotted With All Houston Foreclosures Under 100000
In the map below are the first 20 of all the foreclosures in the Houston metro area that are listed by all real estate companies under $100,000. You can narrow your search by using the text boxes in the top and bottom border of the map. These text boxes will open when you mouse over the border. If you wish to view the details on any of the properties just click on the house icon and our new real estate search technology will open showing the details for that property. Once the entire search opens you can continue searching the foreclosures under $100,000 or you can revise the search allowing you to search all properties listed by all real estate companies in the entire Houston metro area.
Over the next week I will make a series of posts holding the rest of the properties in other price ranges. If you would like to contact me with questions or to view any of these properties you can email me at jameswheelock@houstonhomessource.com or call me at (281-979-0793). I look to hearing from you soon.
