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    Foreclosure Property Search

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    Foreclosure

    For some, it is a word that conveys the fear and dread of financial ruin, while for others it infers a positive economic opportunity. Regardless of the perspective, it is possibly the most misunderstood aspect of any real estate market.

    Buying Foreclosures

    Buying directly from the bank is preferred by many because it is a more methodical, predictable and non-emotional process than buying from the distressed seller.

    Not all REOs are good deals. Many banks want market value in order to recoup as much of their losses as possible. Others are more concerned with liquidating their REO inventory as these non-performing assets have a negative impact on their books. We have relationships with  asset managers and REO officers, so knowing which lenders are motivated sellers and which properties represent a bargain is where we come in.

    Facing Foreclosure

    If you are an owner of New Mexico real estate that would like to know what options you may have in avoiding foreclosure or walking away from the mortgage, fill out the contact form on the right or contact us at 505-298-9999 to schedule a confidential consultation.

    The foreclosure process begins when the lender files a Notice of Default, or NOD, with the County Recorder once a borrower defaults on their loan.  The process ends when:

    *Within the grace period determined by state law (pre-foreclosure), the borrower pays the default amount and reinstates the loan.

    *The property is sold during the pre-foreclosure time period, allowing the borrower to pay off the loan. A situation where the loan is greater than the sale amount, but the lender agrees to a loan pay off that is less than what is owed is referred to as a short sale, or short pay.

    *At the end of the pre-foreclosure period, a trustee sale occurs and the property is sold at a public auction to a third party.

    *The lender takes ownership of the property through an agreement with the borrower during the pre-foreclosure time period, or buys the property at the trustee sale. The bank-owned property is referred to as real estate owned, or REO.

    Foreclosure Properties

    property image
    40 Priscilla Road, Los Lunas $49,900

    Property sold as is where is.

    • 3 Beds
    • 2 Baths
    110 Richmond Se Drive Unit 209, Albuquerque image
    110 Richmond Se Drive Unit 209, Albuquerque $275,000

    This art deco property with modern amenities offer a little something from everyone! 1 bedroom 1 bath condo features raised ceilings sleek lines, built in shelving, desig...

    • 1 Beds
    • 1 Baths
    108 Valentin  Road, Belen image
    108 Valentin Road, Belen $190,000

    Spacious 4 bedroom, 3 bath home situated on 1/2 acre. Two master suites. Large outbuilding divided into office and workshop plus two sheds. The seller must comply with...

    • 4 Beds
    • 3 Baths
    5900 Night Shadow Nw Avenue, Albuquerque image
    5900 Night Shadow Nw Avenue, Albuquerque $229,900

    This home is located on a roomy corner lot. With 2 full baths upstairs and a powder room downstairs. This home offers an open floor plan, which feel larger than noted. Wi...

    • 3 Beds
    • 3 Baths
    Forest Road 615, Pecos image
    Forest Road 615, Pecos $90,000

    None

    Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

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    9577 Osuna Rd. NE, Ste. B,
    Albuquerque, NM 87111
    505-298-9999

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