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What are Dallas Foreclosures?
The term Dallas foreclosure property is often misunderstood. There are two types of Dallas, TX. foreclosures. The first type of Dallas pre-foreclosure is a Dallas property is still legally owned by the Dallas homeowner but who has defaulted on the mortgage payments and foreclosure process has been initiated via a public legal notice posted in Dallas county. The second type is a Dallas foreclosed home which is already owned by a lender who has foreclosed on the Dallas real estate.
The foreclosure process is when a mortgage lender initiates the foreclosure sale process in order to take possession of Dallas real estate via a foreclosure sale. At the Dallas foreclosure auction the homeowner or interested homebuyer may make the opening bid equal to the payoff the existing mortgage balance, back payments and legal fee's to take possession of the Dallas, Texas property. If nobody submits the opening bid amount, the mortgage lender takes legal ownership of the Dallas property and it becomes a Dallas bank-owned property. Retrove is the only real estate search website that allows you to search real estate listings from all Dallas REO properties sources. Refine Your Dallas TX Real Estate Search
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Local Dallas Real Estate Agent
When buying or selling Dallas real estate
Contact a local Dallas REALTOR like: G Andrews SmithL & B Realty Advisors Inc Office: (214) 989-0800 8750 N Central Expy # 800 Dallas, TX. 75231
Dallas FHA Loan Limits
Current FHA loan limits for Dallas, TX.
$271,050 - Single Family Home
$347,000 - 2 Units / Duplex
$419,400 - 3 units / Triplex
$521,250 - 4 units / Fourplex
Buy a Dallas home using a 3% down FHA loan.
Dallas Property Information
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