St. Joseph County Indiana Foreclosures

 Foreclosed Homes in South Bend

What is a Foreclosure?

Foreclosure is when a lender is able to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments and the lender files a public default notice. The foreclosure process can end one of four ways:

  1. The borrower/owner pays off the default amount to reinstate the loan during a grace period known as pre-foreclosure.
  2. The borrower/owner sells the property to a third party during pre-foreclosure, allowing the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.
  3. A third party buys the property at a public auction at the end of the pre-foreclosure period.
  4. The lender takes ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction.

If the home goes through the auction process and no bids are placed, the bank gets the home back it's called an REO (Real Estate Owned) Property and is then classified as an asset.  The buying process is similar to that of a Foreclosure at this point.

 

Search South Bend Indiana Foreclosures -

Use the Foreclosure Search page to search Foreclosed Homes in South Bend Indiana.  Foreclosed homes in South Bend vary in size, price, and level of work that needs to be completed to make the home ready. 

 

Search Granger Indiana Foreclosures -

Use the Foreclosure Search page to search Foreclosed Homes in Granger Indiana.  Not all foreclosed homes are equal, we need to research the area to determine if the home warrants the work that needs to be done (if any)!

 

Search Mishawaka Indiana Foreclosures -

Use the Foreclosure Search page to search Foreclosed Homes in Mishawaka Indiana.  Browse the many Mishawaka foreclosures we have to offer!

 

 

Available St. Joseph County Foreclosured Homes -

This is a small sample of Foreclosures in St. Joseph County.  For a complete list use the Foreclosure Search page!

Foreclosures in St. Joseph County

IDX information is provided by the Indiana Regional MLS and is exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

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