StGeorge.us will be compiling an active list of southern utah foreclosures. The southern utah foreclosure list will be available here in the future.
You can search our free St George MLS page at any time.
What is foreclosure?
Foreclosure happens on a home when a secured lender repossesses a piece of real property. This is usually due to an owner not completing his/her agreement on a mortgage or deed of trust.
Sometimes, foreclosure properties can provide a good real estate investment. When a home is foreclosed on, a new party can normally negotiate a much lower price to purchase the home. When a bank auctions a repossessed property, they will typically set the starting price as the remaining balance on the mortgage loan. Many times the bank will set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the loan.
Southern Utah foreclosures have been increasing over the last few years due to ARM loans. The interest rate on the ARM increases, and some families are not able to keep up with the payments. This will cause homes in St George to go into foreclosure.
St George Foreclosure Investment
Some individuals and companies are engaged in the business of purchasing properties at foreclosure sales. Distressed assets (such as foreclosed property or equipment) are considered by some to be worthwhile investments because the bank or mortgage company is not motivated to sell the property for more than is pledged against it.
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