Where Can You Find Foreclosed Homes in NJ?

Where Can You Find Foreclosed Homes in NJ?

As of September 2014, two of the several websites that list foreclosed homes include Zillow.com and Forclosure.NJ.com. Zillow.com is an online real estate database founded by former Microsoft executives Rich Barton and Lloyd Frink, according to Wikipedia.

A foreclosure is a legal process where a lender attempts to recover the balance of an unpaid loan from a borrower who has stopped making payments by forcing the sale of the collateral, reports Wikipedia. Websites like Zillow.com allow buyers to find properties that have been foreclosed upon and that may represent favorable value. In 2008, Zillow.com launched a mortgage buyers marketplace to complement its real estate listings.