Direct Bank Owned Home Sales
I've been looking more and more at bank owned homes lately, they present the only reasonably priced houses around here. Most of the bank owned homes I've double checked against the registry of deeds are being sold for between 60% and 70% of the outstanding mortgage amount for which the bank foreclosed. The banks were in a big hurry to earn commissions by selling mortgages based on incredibly unrealistic valuations, and now they are finally trying to move the inventory before it falls further. But whenever I tried searching for bank owned foreclosures, I ended up at various subscription sites. Here's the only real bank owned sales lists I've found to date for large banks:
Bank of America
Countrywide
Citibank
Fannie Mae
Freddie Mac
Good luck finding a house, I'm driving out to take a look at a local one I just found on the Fannie Mae list.

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