Madison WI Foreclosures
Interested in purchasing a great home that fits your lifestyle perfectly but concerned because the sign in the front yard says, 'foreclosure' or 'bank owned'? Don't worry! At Lake & City Homes, we've had great success cutting through the red tape, streamlining the home buying process, & helping our clients purchase Madison foreclosures & bank-owned properties. The home buying process doesn't have to be complicated even when it involves negotiating with banks. Don't give up on your dreams. Give us the opportunity to represent your interests & negotiate a great deal for you on a bank-owned home. We love what we do, and you will too!
Foreclosures & short sales for sale:
|All Listings||Under $100,000||$100,000 - $200,000|
|$200,000 - $300,000||$500,000 - $600,000||Over $1,000,000|
More Madison WI foreclosures, short sales, & REOs
Can't find what you're looking for? View the entire inventory of distressed property in the Greater Madison area all in one place! Includes ALL short sales, foreclosures, and REOs (bank-owned property) in Black Earth, Blue Mounds, Cambridge, Cottage Grove, Cross Plains, DeForest, Fitchburg, Madison, Mazomanie, McFarland, Middleton, Monona, Mount Horeb, Oregon, Stoughton, Sun Prairie, Verona, Waunakee, Westport, and Windsor. Updated every 3 hours, 24/hours a day!
The foreclosure process in relation to residential mortgage loans involves a bank or other secured creditor selling or repossessing real estate (home or land) as a result of the owner failing to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". In most cases the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the foreclosure process has been completed, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs. Banks usually sell foreclosed properties at pretty deep discounts a.) since their carrying costs are very high and b.) banks are not in the business of (nor do they typically want to) own real estate.
Help for Madison homeowners in default
If you find yourself struggling to afford your mortgage, Lake & City Homes Realty will be happy to provide you with a free comparative market analysis (CMA). This document helps you and your lender determine the current market value of your home, making it easier for you to obtain a principal forbearance or short refinance or to proceed with a short sale. You can also use a CMA to determine whether you qualify for refinancing or to prove that you owe the bank more than your property is worth. Homeowners interested in cashing out their equity by listing and selling their property can benefit from a CMA as well. Contact Lake & City Homes for assistance, call (563) BUY-SOLD or fill out our request a CMA form.
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Need more information? No question is too big or small. Call us today at (563) BUY-SOLD or fill out the short form below and we'll be in touch.