Welcome to HUDHomesForSale.info Your site for information on HUD/FHA bank owned Foreclosures in Fort Wayne, New Haven, Columbia City and all of Northeast Indiana.

HUD Homes for Sale is provided as a service of Imagine Real Estate, a locally owned full service real estate brokerage. We are not a national site, we are Fort Wayne Realtors® here to help Fort Wayne Area Home Buyers. If you have any questions on purchasing a bank owned, FHA, HUD, foreclosed home in Fort Wayne call us today at 260.748.3000 we are here to help!

To Search ALL Bank Owned Property in the Fort Wayne Area visit FortWayneREOS.com

Real estate owned or REO is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.[1] This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. The minimum bid in most foreclosure auctions equals the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys' fees.

After an unsuccessful auction, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

Once a property is REO, the bank or lender will try to get rid of the property by either selling it directly themselves or through an established broker. Many larger banks such as Bank of America and Wells Fargo have REO/asset management departments that will field bids and offers, oversee upkeep and handle sales. Courtesy Wikipedia..

HUD Homes for sale are homes that were financed with FHA (Federal Housing Administration) insured financing. There are dozens of HUD Homes located for sale in Fort Wayne and Northeast Indiana.

Call Imagine Real Estate at 748-3000 for information on Bank Owned Property in Fort Wayne. FortWayneREOS.com is your source for info on Bank Owned Foreclosures in the Fort Wayne, Indiana Area.

Imagine Real Estate is a HUD certified broker for Indiana. Call us today at 260-748-3000 for information on HUD owned homes in Indiana.

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