Tips On Foreclosure Websites Good Not So Good

Foreclosures might represent your chance to become an investor. A property goes into foreclosure when the current home owner is not making the required mortgage payments. The lender or bank takes back the home and then tries to resell it quickly in order to cut its losses. In order to get the best deals on foreclosures, you need to do your research--foreclosure websites are a useful resource. Here are a few of them that offer free trials.

Foreclosure.com gives you access to information about 1.2 million properties (foreclosures, pre-foreclosures, bankruptcies, for sale by owner homes and tax liens). After your free trial expires, you pay about $40.00 per month for the service. This site is updated daily.

ForeclosureReportings.com provides foreclosure and pre-foreclosure listings for just under $20.00 per month after the free one week trial. This site is recommended for novices to the foreclosure industry.

RealtyTrac.com presently offers 500,000 foreclosure and pre-foreclosure properties. The number of auction, bank owned, for sale by owner, resale and new homes that this site offers is not provided but they are also present. Membership to this site costs $39.80 per month after the trial is over. However, you can get a discount for purchasing more than one month at a time. There is quite a bit of information for users and non-members as well such as instructional articles that can help both buyers and sellers of foreclosed properties.

Foreclosures.com (not to be confused with Foreclosure.com) offers training on the foreclosure industry in addition to the actual listings. Although the training is a good idea, especially if you are new to investing, the listings are not up to the standard of the previously mentioned foreclosure websites. The training and listings together come to about $50 per month after the 1-week trail. You can also purchase the training by itself for $20.00.

ForeclosureDataOnline.com's membership grants you access to a database with over 400,000 properties (residential, commercial and lots). There is a free one-week trial but it does not grant you access to all of the features of the website. You can pay $3.95 to gain complete access for a week. Then, the price is about $40.00 per month or $99.00 for 12 months. This site also offers many tools like free property alerts and a free book offers that can help you in your search. Much of the published information comes from reliable sources like major banks, HUD and Fannie Mae.

RealtyStore.com can help you attack the foreclosure market with special bonuses, free credit reports and significant savings on loans and downpayments. This site offers a one week unlimited trial for $1.00. After that, should you decide to continue using it as a resource, the cost is about $10 per week. RealtyStore.com also provides valuable information about the neighborhoods of the properties you are reviewing and tutorials that can help you with pre-foreclosure purchases. If you are a beginner, this is one of the best foreclosure websites to choose from.