Arlington, Mansfield and Fort Worth Texas Area Foreclosure Homes for Sale

The Tom Brewer Gold Team covers all of Tarrant County and Dallas County Foreclosures and will provide you with a customized list to suit your buying preferences in all areas of Real Estate. The properties and their availability listed below change on a daily basis. These are not all of the available foreclosure listings however they are a representative sample of the areas. Please tell me in the form below what your preferences are and I will send you a customized list of available properties within 24 hours. Please make sure to include your price range and specific cities of interest in your message.

These homes sell very quickly . All of these homes require a letter of pre-approval to be shown. Please do not hesitate to contact me and I will take care of this for you. If you do not see an area of interest please do not hesitate to call and I will customize a list of  homes for you.

Tarrant County Area Residential Home Foreclosures for Sale

All Listings $100,000 - $200,000 $200,000 - $300,000
$300,000 - $400,000 $500,000 - $600,000 $600,000 - $700,000
$900,000 - $1,000,000 Over $1,000,000

Tarrant County Area Residential Home Foreclosures for Sale (Newest First)

14 Properties Found. Page 1 of 1.
Photo of Listing #20570606

1315 White Oak, Cedar Hill

$379,999 - 4 Beds, 3 Baths, 3,089 Sf

MLS® # 20570606

Photo of Listing #20564138

6425 Trail Lake Drive, Fort Worth

$293,000 - 3 Beds, 2 Baths, 2,157 Sf

MLS® # 20564138

Photo of Listing #20564083

13653 Helix Bridge Way, Crowley

$349,998 - 3 Beds, 2 Baths, 1,939 Sf

MLS® # 20564083

Photo of Listing #20559240

1404 Freesia Drive, Little Elm

$399,900 - 3 Beds, 2 Baths, 2,006 Sf

MLS® # 20559240

Photo of Listing #20532472

14847 Chancey Street, Addison

$595,000 - 3 Beds, 2 Baths, 2,142 Sf

MLS® # 20532472

Photo of Listing #20554901

410 Wolfe Street, McKinney

$699,990 - 4 Beds, 2 Baths, 2,538 Sf

MLS® # 20554901

Photo of Listing #20548428

3407 Sheffield Drive, Arlington

$315,000 - 3 Beds, 2 Baths, 2,005 Sf

MLS® # 20548428

Photo of Listing #20547044

821 Longhorn Hollow, Southlake

$2,950,000 - 8 Beds, 5 Baths, 8,184 Sf

MLS® # 20547044

Photo of Listing #20540217

5720 Humbert Avenue, Fort Worth

$178,500 - 3 Beds, 1 Baths, 804 Sf

MLS® # 20540217

Photo of Listing #20534622

5813 End O Trail, Fort Worth

$520,000 - 4 Beds, 3 Baths, 4,292 Sf

MLS® # 20534622

Photo of Listing #20521417

2405 Bucer Court, McKinney

$990,000 - 5 Beds, 4 Baths, 4,174 Sf

MLS® # 20521417

Photo of Listing #20491956

401 Hogans, Trophy Club

$1,324,950 - 4 Beds, 4 Baths, 7,008 Sf

MLS® # 20491956

Photo of Listing #20445371

5213 Rutland Avenue, Fort Worth

$279,000 - 3 Beds, 2 Baths, 1,580 Sf

MLS® # 20445371

Photo of Listing #20260717

1517 Nighthawk Lane, Mansfield

$599,950 - 4 Beds, 2 Baths, 2,619 Sf

MLS® # 20260717

 

Foreclosures Are Not All The Same

 

The real estate industry is becoming more and more specialized as regulations and legal issues tend to make simple matters more difficult and the reasonable unreasonable. The specialization is also now becoming part of the bank world. I speak with clients quite a bit about foreclosure opportunities in my market and I can tell you that there is an overwhelming assumption that all foreclosures are the same and on occasion all foreclosures are HUD properties. Nothing is further from the truth. Not only are there numerous types of foreclosures there are different contracts and addenda that come into play as well. The type of loan that you have may also play a part in a successful or unsuccessful acceptance of an offer as well. Let’s take a closer look.
HUD Properties

 

When a lender forecloses on an FHA loan the lender is in all actuality filing a mortgage insurance claim for the balance due. The lender will then transfer the property back over to HUD and this property now becomes a HUD foreclosure. A HUD foreclosure is generally for less expensive properties due to the FHA lending limits. These properties will allow FHA financing in either a standard 203B loan or the 203K rehab loan. The properties have a maximum lending value of the listed price on FHA financing so any amount bid above this must be a cash contribution from the seller. This can be problematic as potential buyers that are using conventional financing can bid above the list price and as long as the property appraises then the cash out of pocket is not increased in any way other than the original terms of down payment on the loan. VA financing on HUD properties is more difficult due to stricter appraisal requirements that may ask for repair. HUD as a general rule does not repair property.

 

Fannie Mae and Freddie Mac

 

While they are a little different for this discussion we will treat them the same. Fannie and Freddie are privately owned entities that are known as government sponsored entities because they receive federal support and assume some public responsibility. For simplicities sake Fannie and Freddie are conforming (Conventional Lenders) in loan type. When a Fannie Mae or Freddie Mac loan is foreclosed the property reverts back to the entity and is assigned to the REO department. This department contracts with many Realtors in many cities to market and liquidate their properties. The operating assumptions are different than HUD in concept not only in terms of the purchase contract structure they are also different in the rehabbing side as well. Many Fannie and Freddie properties will be given a cosmetic facelift either before or during the marketing period of the home. The properties are generally more aggressively priced however are usually in much better condition than a HUD home. These properties are much friendlier to all types of loans as the properties will usually pass a condition report on an appraisal.

 


Other Bank Foreclosures

 

These types of foreclosures are usually either conventional in nature or a proprietary loan product that a bank chose to warehouse the loan (which means the loan was not sold on the mortgage backed securities market) and the banks themselves own not only the servicing rights to the loan but the actual loan obligation as well. These foreclosures are handled by individual banks such as Wells Fargo, Bank of America, Chase bank and Citi Bank to name a few. These foreclosures are all a little different as the bank policies and procedures in the treatment of these properties are different with each entity. That translates into the real necessity of an experienced Realtor that deals with these properties on a regular basis so that you are not exposed to any possible negative repercussions in the transaction.

 


VA Foreclosures

 

VA stands for the Veterans Administration and these are foreclosures that involve VA financing. These properties have their own contract format and policies and procedures as well. These foreclosures are generally manages by Ocwen and this entity serves as the REO management company of the VA.

 


As you can see there are many types of foreclosures in the real estate world. The most important thing to consider in getting involved with this type of transaction is making sure you are working with a qualified real estate agent. Do not be afraid to ask questions, ask for explanations and require thorough information before any commitment is made to purchase a property.

 

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Listing information last updated on March 29th, 2024 at 3:45am CDT.