The Government and its agencies have auctions for the sale of real estate regularly and this information is usually placed on foreclosure listings for the publics use. These listings are free to access and first time buyers will especially find these useful as government listings are more reliable than those by other realty companies. Foreclosure houses are also likely to be cheaper here because the government is not out to make a profit, only to get back the money it has given the borrower so that it can put it back to the revolving fund. Many local and international investors are already buying foreclosures in big numbers

Government foreclosure listings are lists of houses that the current occupants have failed to pay the mortgage that had been secured by HUD. HUD stands for Housing and Urban Development and is the agency that deals with matters concerned with real estate and urban development in the United States. These listings are numerous on the internet or as hard copies on the departments offices. They contain all the foreclosure homes and tax seized homes available in each and every state.

Although foreclosure properties are available in all cities and states across the United States, the top cities where they are found are Florida, Texas, California, Illinois and New York. You will find that the majority of the foreclosure listings are in these states. You can search through the government foreclosure lists by either going through top states or through top cities. Government foreclosures are resolved differently from bank foreclosures and other foreclosures types.

Government foreclosure listings can tend not to be as current as listings by other private companies, so you should make sure the information regarding government foreclosures is as current as possible before making a decision to buy a home. Other listings are available on many websites online for free or at a small fee.