What is a distressed property list?

Question

What is a distressed property list?

Answer 1

It is a "come-on" to separate you from your hard-earned money.  You can get the list free at the county Recorder's Office. They will help you. Some are online.  You are looking for Notice of Trustee Sale.  Get to work.  /

Answer 2

It's a list of properties for sale that are considered distressed.

A distressed property is one that is in preforeclosure, in foreclosure, or is a short sale. Preforeclosure means that the lender has issued a notice of default (NOD) because the owner is behind on his payments and foreclosure is imminent. Foreclosure means that the bank has seized the property and is selling it to get whatever they can out of it. A short sale is where an owner has negotiated with the bank to sell the home for less than what's owed, and the bank has agreed to forgive the outstanding debt because of some hardship the owner is experiencing (like loss of a job - and "I owe more on the property than what it's worth" is not a hardship).

Because the banks want to get out from underneath distressed properties, and get whatever they can for it as quickly as they can, distressed properties can generally be purchased significantly below market value. So, people with access to listing services have parsed out all of the distressed properties for sale and put them on a convenient list. They then sell these lists to prospective buyers who are looking specifically for distressed properties.

Actually, it's pretty easy to figure out which properties in a listing are distressed. Short sales and preforeclosures with generally say that in the listing description. Foreclosures will either say foreclosure, bank-owned, or REO (real-estate owned) in the description. Also, the distressed properties will be listed at much lower prices than similar non-distressed properties.

Answer 3

propertie behind on their mortgages;

right now, nationwide that list is over

5,000,000 borrowers weak!