Foreclosure Fetcher FAQs

If you have a question about Foreclosure Fetcher or foreclosures in general, chances are someone else has had it, too! Please look through the categories below to find answers to some of our most frequently asked foreclosure questions. Don’t see what you’re looking for? Feel free to contact us!

Navigate FAQs

• Non Member FAQs
• Member FAQs
• Home Financing FAQs
• Foreclosure FAQs
• Down Payment Assistance FAQs

Non Member FAQs

1. How is foreclosure Fetcher tied to Bargain Network?
2. How do I become a member?
3. What is my user name and password?
4. Is this service free?
5. Is there a shipping charge?
6. Are the fees refundable?
7. What happens after the free trial period?
8. How long has Bargain Network been in business?
9. Is Bargain Network a member of the Better Business Bureau?
10. Where does Bargain Network get its information?
11. I'm looking to buy a home in a different area, town, state, etc....
12. Can I finance a purchase through Bargain.com?
13. Do you need credit/good credit to buy these homes?
14. Can I still get a house if I filed for bankruptcy?
15. Do you need to be a Bargain Network member to look at foreclosures or attend the auctions?

How is Foreclosure Fetcher tied to Bargain Network?

In order to reach a broader consumer base, Bargain Network’s Home division created an alternate business identity called Foreclosure Fetcher in order to help prospective home buyers find foreclosures in their area and within their price range more easily and efficiently. Bargain Network DBA Foreclosure Fetcher maintains the same high standards and commitment to reliability upon which the company was founded.

How do I become a member?

To become a member, please click the SIGN UP link on the home page, and fill out the registration information on the following pages.

What is my user name and password?

Your User Name is your last name. Your Password is your phone number beginning with the area code. For passwords, do not use any spaces, dashes or parenthesis when entering this number (e.g. 2125555555).

Is this service free?

Your membership begins with a Free Trial. If you decide the service is not for you, simply cancel your account during the 7-Day Free Trial period and no charges will occur. If you choose to continue after the Free Trial, your membership fee will automatically renew. The membership fee is billed directly to your account on a monthly basis and renewals will continue to be billed to your account until you cancel your membership. The length of the Free Trial period and the membership cost once the Free Trial ends vary from time to time; for the current amounts please refer to the sign-up pages.

Is there a shipping charge?

There is no shipping and handling charge for online subscribers.

Are the fees refundable?

The membership fee is a non-refundable, month-to-month charge and covers the cost of your subscription while you are a Bargain Network member. If you decide the service is no longer for you, you may cancel at any point by calling our Member Services department.

What happens after the free trial period?

After the free trial period ends, we will begin charging your credit card the monthly, non-refundable membership fee. However, you may cancel at any point with no further obligation by calling our Member Services department.

How long has Bargain Network been in business?

Our company has been in business since 1995.

Is Bargain Network a member of the Better Business Bureau?

Bargain.com is a member of the Better Business Bureau. We work very closely with the BBB to ensure that all Bargain Network transactions result in customer satisfaction.

Where does Bargain Network get its information?

Bargain Network use various sources for property listings. We have active contracts with numerous data providers that provide us with over 700,000 property listings, updated daily. Our member's can view these listings within 15 second's, or contact our Member Services Department at 1-800-788-5648 where they will assist you with your search.

I'm looking to buy a home in a different area, town, state, etc....

Bargain.com lists properties throughout the US, so you can look anywhere you like in the United States. However, by Oregon state law we are not allowed to list properties in Oregon.

Can I finance a purchase through Bargain.com?

Bargain.com does not offer financing directly. We provide links to businesses that will gladly assist you. These links are located in the members only section of the website. Sign in, click on "FINANCE", and then click on the appropriate icon.

Do you need credit/good credit to buy these homes?

There are all kinds of loans for all different levels of credit, some lenders provide up to 100% financing. You should discuss financing questions with a qualified representative from one of our financing referrals. Bargain Network members may access these referrals by clicking on "FINANCE" and then by clicking on the appropriate icon.

Can I still get a house if I filed for bankruptcy?

There are all kinds of loans for all different levels of credit, some lenders provide up to 100% financing. You should discuss financing questions with a qualified representative from one of our financing referrals. Bargain Network members may access these referrals by clicking on "FINANCE" and then clicking on the appropriate icon.

Do you need to be a Bargain Network member to look at foreclosures or attend the auctions?

You do not need to be a Bargain Network member to go to auctions or look at foreclosed property. However, Bargain.com's service performs all the research for you, ensuring you see most every listing and making it much easier for you to get the information you need.

Member FAQs

1. What is my user name and password?
2. Is this service free?
3. Are the fees refundable?
4. What happens after the free trial period?
5. Can I cancel my membership online or by email?
6. How do I receive my updated listings in the mail?
7. Where does Bargain Network get its information?
8. How long has Bargain Network been in business?
9. Is Bargain Network a member of the Better Business Bureau?

What is my user name and password?

Your user name is your last name and your Password is your phone number beginning with the area code. For passwords, be sure not to use any spaces, dashes or parenthesis when entering this number (e.g. 2125555555). Back to the Top

Is this service free?

Your membership begins with a Free Trial. If you decide the service is not for you, simply cancel your account during the 7-Day Free Trial period and no charges will occur. If you choose to continue after the Free Trial, your membership fee will automatically renew. The membership fee is billed directly to your account on a monthly basis and renewals will continue to be billed to your account until you cancel your membership. The length of the Free Trial period and the membership cost once the Free Trial ends vary from time to time; for the current amounts please refer to the sign-up pages. Back to the Top

Are the fees refundable?

The membership fee is a non-refundable, month-to-month charge and covers the cost of your subscription while you are a Bargain Network member. If you decide the service is no longer for you, you may cancel at any point by calling our Member Services department at 1-800-788-5648.

What happens after the free trial period?

After the free trial period ends, we will begin charging your credit card the monthly membership fee. However, you may cancel at any point with no further obligation by calling our Member Services department at 1-800-788-5648.

Can I cancel my membership online or by email?

For security purposes, Bargain Network, Inc. does not process upgrades or changes to account status by email or any other form of communication other than by telephone. To upgrade or change your account status with Bargain Network, Inc., you MUST call our Member Services department directly. Member Services can be reached by calling 1-800-788-5648.

How do I receive my updated listings in the mail?

Updated listings are available free of charge as a courtesy to our members. In order to receive updated listings, please call our Member Services department at 1-800-788-5648.

Where does Bargain Network get its information?

Bargain Network use various sources for property listings. We have active contracts with numerous data providers that provide us with over 700,000 property listings, updated daily. Our member's can view these listings within 15 second's, or contact our Member Services Department at 1-800-788-5648 where they will assist you with your search.

How long has Bargain Network been in business?

Our company has been in business since 1995.

Is Bargain Network a member of the Better Business Bureau?

Bargain.com is a member of the Better Business Bureau. We work very closely with the BBB to ensure that all Bargain Network transactions result in customer satisfaction.

Home Financing FAQs

1. Can I finance a purchase through Bargain.com?
2. Do you need credit/good credit to buy a home?
3. Can I still get a house if I filed for bankruptcy?
4. How much mortgage can I afford?
5. What is a home loan Pre-approval?
6. What is a home purchase loan?

Can I finance a purchase through Bargain.com?

Although Bargain.com does not offer financing directly, we can introduce you to our mortgage partners who will gladly assist you. We have carefully selected these mortgage partners for you because they are among the best mortgage brokers or mortgage lenders in the country. To find out more about home financing, please visit our Mortgage Center section.

Do you need credit/good credit to buy a home?

There are all kinds of loans for all different levels of credit, and some of the lenders can provide up to 100% financing depending on the loan amount, credit history and income level of the buyer. The best credit terms you can get will depend on your credit, so you should discuss financing questions with a qualified representative from one of our mortgage partners. If you want to find out about your credit score prior to applying for a loan, you can get a Free Credit Report and learn more about your credit report in our Mortgage Center section.

Can I still get a house if I filed for bankruptcy?

There are all kinds of loans for all different levels of credit, and some of the lenders can provide up to 100% financing to their clients who qualify. The best credit terms you can get will depend on your credit, so you should discuss financing questions with a qualified representative from one of our financing referrals. To find out more about home financing, please visit our Mortgage Center section (members only).

How much mortgage can I afford?

For most people - who pay top dollar, retail pricing for their homes - the question "how much home can they afford?" really means, "how big a mortgage can they afford?"

But for Bargain Network members - who have toll-free live support in finding the best possible real estate deals - the question becomes: "How much more home can I get for my dollar?" In other words, by using Bargain Network to help find an undervalued property, your monthly mortgage payment can go a lot further than someone who pays full market value for his home.

What is a home loan Pre-approval?

You can get qualified for a loan from a mortgage lender before you have found the dream home. Having a pre-approval letter from a mortgage bank will allow you to act quickly when you find a dream home, help put you ahead of other potential bidders for the property, and increases your chance to get your dream home. We have selected some of the best mortgage lenders and mortgage brokers in the country. Click here to find out more.

What is a home purchase loan?

Most people need to borrow money to buy a property. A home purchase loan is the loan a homebuyer takes out from a mortgage bank in order to pay for the property. When getting a home purchase loan, you need to consider many factors including:

1. The interest rate
2. Fixed interest rate vs. variable rate
3. Whether or not there are any points involved
4. The length of loan
5. Closing costs. Loan officers can assist you throughout the loan application process to figure out the best loan suited for your particular needs. We have selected some of the best mortgage lenders and mortgage brokers in the country.

Foreclosure FAQs

1. What is a foreclosure?
2. How do lenders foreclose on properties?
3. What are the stages of foreclosure?
4. Who can buy a foreclosure?
5. Can I buy a foreclosure as an Investment?
6. How can I find out which foreclosure properties are for sale?
7. How do I get more information about the foreclosure properties that are for sale?
8. How do I buy foreclosed property?
9. Do I need a real estate agent to buy a foreclosure property?
10. What is a foreclosure auction?
11. How do I find foreclosure auctions?
12. What should I do before attending a foreclosure auction?
13. Will I be able to inspect the property before the auction?
14. How is the opening bid at a foreclosure auction determined?
15. What are the bidding procedures?
16. How much money do I need to bring to the foreclosure auction?
17. What is an REO?
18. How do banks sell REO's?
19. How do I find REO properties?
20. How can I purchase REO properties
21. Do I need a real estate agent?
22. Should I get pre-approved for a mortgage before buying an REO?
23. What type of lender should I look for?

What is a foreclosure?

A foreclosure is a legal process in which a bank or other secured creditor sells or repossesses a piece of real property because the owner has failed to make payments on their mortgage. There are four ways the foreclosure process can end:

• The borrower makes an arrangement with the lender to pay off the default amount to reinstate the loan.
• The borrower sells the property during the pre-foreclosure period. If the borrower sells the property during this stage they will avoid having a defaulted loan on their credit history.
• Once the lender is awarded final judgment by the courts the lender will sell the property at public auction.
• If the property is not sold at auction or the bank purchases the property at auction the lender gains possession of the property.

How do lenders foreclose on properties?

Every State has different laws regarding the foreclosure process. Learn more about foreclosure laws in your state by going to the State Foreclosure Laws in Bargain Network Homes Learn section. Although every State does have their own foreclosure procedures, there are two steps in the foreclosure process that lenders use to foreclose on properties that are used throughout the nation:

• The lender must record a notice of default with the courts or file a lawsuit against the property owner.
• Once the notice of default is filed the property owner is given a reinstatement period. It is during this period that the buyer has the opportunity to refinance their loan or sell their property.

What are the stages of foreclosure?

1. Pre-foreclosure - this is the period of time when the first legal proceedings takes place by the lending institution against the property owner. It is during this period of time that the property owner has a chance to settle their mortgage debt. The property owner can sell the property during this period. If the property is sold during this stage the owner can avoid having a defaulted loan on their credit history. 2. Foreclosure Auction - If the debt is not settled and the lender is awarded final judgment by the courts the lender will sell the property at public auction. 3. Real Estate Owned Property (REO) - If the property is not sold at auction the lender regains possession of the property

Who can buy a foreclosure?

Anyone! If you have the cash or can qualify for a mortgage, you can buy a Lender-owned property.

Can I buy a foreclosure as an Investment?

Yes. Foreclosure properties listed on bargain.com are available to all member buyers, including investors.

How can I find out which foreclosure properties are for sale?

Right here! Foreclosure properties are available after you sign up for a Free Trial membership.

How do I get more information about the foreclosure properties that are for sale?

Most of the foreclosure properties listed on our site provide the name and phone number of the listing agent. If you are a potential buyer, please contact the appropriate listing agent directly. Sometimes, the contact information for the listing agent is not available. If you need help finding a realtor, please try our Find a Realtor® service.

How do I buy foreclosed property?

Start right here. Foreclosure Fetcher/Bargain Network is your one stop resource for all the information that you need to buy foreclosures. You will find:

• A nationwide database of foreclosure listings
• Information on the foreclosure process
• Property reports to help you research the foreclosure that interests you.
• Finance information
• State Foreclosure Laws
• Investment information

Do I need a real estate agent to buy a foreclosure property?

A real estate agent is needed to purchase government owned foreclosure property, but you don't need one to purchase REO properties or foreclosure auction properties. Bargain Network does recommend that you find a real estate agent to help ease you through the buying process. To find an agent, please contact the agent listed on the foreclosed property, or contact your local real estate broker. If you need help finding a realtor, please try our Find a Realtor® service.

What is a foreclosure auction?

Generally the foreclosure auction comes at the end of the foreclosure process when the homeowner can no longer repair their financial problems with the lender. As with any auction the person with the highest bid gets the foreclosed property. Remember if you are going to be buying a home at a foreclosure property auction you will be bidding against other investors and potential homebuyers. Do your homework in advance and know how much the property is worth, how much is still owed on the property and if there are any liens against the property.

How do I find foreclosure auctions?

Right here! Foreclosure auction properties are available after you sign up for a Free Trial membership.

What should I do before attending a foreclosure auction?

Familiarize yourself with the auction process" Go to the courthouse to observe the auction process before bidding on a foreclosed property.

• Know where the auction is taking place
• Research your State Foreclosure Laws
• Phone ahead and ask about any requirements needed for buying at the foreclosure auction
• Research the property
• Determine your bid amount

Will I be able to inspect the property before the auction?

In most cases you will not be able to inspect the property before the auction. Make sure you research the property that you intend to buy. Auction purchases are "as is" with no warranties given, no title insurance provided, and in most cases are cash-only, you need to know as much about the property you are bidding on before the auction takes place. A great way to research the foreclosure auction property you are interested in is by ordering a property report through Bargain Network.

How is the opening bid at a foreclosure auction determined?

The opening bid at a foreclosure auction is based on the total amount owed to the foreclosing lender, interest incurred, late charges, penalties any liens placed on the property by other institutions, and may include fees incurred because of the foreclosure proceedings. If no one at the auction places a bed above the opening bid amount the foreclosing lender gains possession of the property.

What are the bidding procedures?

Bidding procedures vary from State to State make sure you become familiar with the bidding procedures in your area before you start bidding at a foreclosure auction.

How much money do I need to bring to the foreclosure auction?

Some States require foreclosure auction bidders to bring the full amount they want to bid in the form of cash or a cashier's check to the auction. In other States, bidders are required to bring a percentage of the bid amount to the auction and pay the rest of the amount within 30 to 90 days. Because foreclosure procedures vary from State to State be sure to familiarize yourself with the foreclosure process in your State by reading Bargain Network's foreclosure Laws.

What is an REO?

An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. The bank now owns the foreclosure and the mortgage no longer exists.

How do banks sell REO's?

Each bank or lender conducts its business in a different manner. The bank or lenders goal is to get the best price possible for the property they are selling. Most banks have separate departments that manage their REO inventory.

How do I find REO properties?

You can find REO properties right here, available after you sign up for a Free Trial membership.

How can I purchase REO properties?

Most of the REO properties listed on our site provide the name and phone number of the listing agent. If you are a potential buyer, please contact the appropriate listing agent directly. Sometimes, the contact information for the listing agent is not available. If you need help finding a realtor, please try our Find a Realtor® service.

Do I need a real estate agent?

Bargain Network does recommend that you find a real estate agent to help ease you through the buying process. To find an agent, please contact the agent listed on the foreclosed property, or contact your local real estate broker. If you need help finding a realtor, please try our Find a Realtor® service.

Should I get pre-approved for a mortgage before buying an REO?

Yes!!! Pre-qualifying for a loan is important for a potential homebuyer because it helps ensure that the buyer is in a financial position to purchase a property, and it places the buyer in the strongest possible position to negotiate with the selling agent of the REO property. When a potential homebuyer already has pre-approved financing in-hand, negotiations with REO selling agent and the lender go much smoother. Pre-approval gives you the homebuyer a concrete idea of what you can afford and shows the selling agent that you are serious about buying a home.

What type of lender should I look for?

When buying a REO property the best type of lender to work with is one who understands the re-possession process. A knowledgeable lender can guide a homebuyer through any potential pitfalls that may crop up and ensure that the proper steps and procedures are being followed, such as ensuring that the property being purchased is FHA-compliant.

Down Payment Assistance FAQs

1. What are down payment assistance programs?
   
2. How do they work for the buyer?
   
3. How do they work for the seller?
   
4. Quick FAQs
   

What are down payment assistance programs?

Down Payment Assistance Programs help homebuyers with money at closing for no down payment mortgage and assistance for closing costs. Potential homebuyers of moderate to low-income who qualify for a mortgage but are unable to come up with the down payment or closing costs may be able to obtain assistance from Down Payment Assistance Programs.

How do they work for the buyer?

Buyers qualify for gift funds by getting approved for home loans from lenders who accepts gifts from nonprofit organizations, and by purchasing homes form sellers who agree to make a donation to one of the various down payment assistance programs after a home sale has closed. The funds are offered towards the purchase of a home when a seller participates in the program. Buyers are credited with the grant and the money is sent directly to the settlement agent for the homebuyer's down payment and/or closing costs for the home purchase. The homebuyer must agree to return any funds not used toward the home purchase. The funds must also be returned if the purchase does not go through.

How do they work for the seller?

Home sellers help buyers pay closing costs by giving a portion of their proceeds back to the buyer at closing. The amount of assistance the homebuyer receives depends on the type of loan that they have qualified for. By taking part in this program, a seller may attract more potential homebuyers to his or her property. The seller of a home cannot simply give the down payment money to a buyer because federal housing regulations do not allow a seller to give a buyer down payment money directly, a third party must be involved. Down payment assistance programs fill the role as third party representatives. They oversee the transfer of money from the seller to the buyer. The gift is treated as a down payment. The buyer has no part in the transfer of funds.

Quick FAQs

• Homebuyers must qualify for a loan that allows gift funds
• There are no minimum or maximum income requirements for buyers, but there may be top limits set on the sales price of homes
• Assistance range form 1% to 7%
• Funds can be used for down payment and for closing costs
• Gift funds can be used for new or existing home
• Unused funds must be returned to the gift program
• Assistance programs cannot be used to refinance a house or to make home improvements
• Sellers cannot use the gift as a charitable contribution, but it may be deductible as a selling expense.