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ND Foreclosures

ND Foreclosure homes and buying the foreclosed real estate is one of the great options that are availed by many of the citizens of North Dakota. Real estate investors, buyers and even property agents keep searching for the pre-foreclosures, auctions, bank-owned properties, FSBO homes, REO etc.

North Dakota Foreclosures

Cass County in the state of North Dakota is the most populous and has the highest number of foreclosures. Now as the unemployment rate in the state is quiet high, the foreclosure homes are also increasing in number. Along with this per-capita and household income are also lower than the national average. All these are causing the trouble of foreclosure in ND. But the rise in the distressed homes and properties brigs golden opportunity for the buyers, as the prices of these are very low as compare to new homes.

North Dakota Foreclosure Laws

Now According to North Dakota Foreclosure Laws no Non-Judicial foreclosure is allowed and it takes place only by the judicial process with the mortgage as a primary instrument. Right of redemption is given to the borrower and deficiency judgment to the lender. Further North Dakota foreclosure laws defines the procedure for the judicial foreclosure which instigate with the decree from the court that defines the short period for the borrower to make the necessary payments. On the contrary if there is no response from the side of the borrower then the court will order the sale of the property. Along with this the following procedure is followed in ND for the foreclosure process:
  • Notice by the lender, stating the intention to foreclose the property must be sent to the borrower 30 days before the filing
  • 90 days before filing a law suit, the notice should be recorded with the county's recorder office and should contain- description of the property, mortgage date and amount, principal amount, due taxes. Along with this the notice should also contain the statement concerning lawsuit that will be filed if payments are not made within stipulated period of time.

According to the North Dakota foreclosure laws the sale of the property is either conducted by Sheriff or the deputy in the county. Certificate of sale is given to the highest bidder at the time of auction. This certificate is issued for the period of redemption that is generally a year.

For more information on ND foreclosure, North Dakota foreclosure laws and listing you can also check the given list of websites by Realestatezing.com.
 
North Dakota Legislative Branch
North Dakota Legislative Branch is an official portal for the ND government and contains the state constitution and code. You can read bill, laws, resolutions etc from this website.
Website: http://www.legis.nd.gov/information/statutes/const-laws.html
 
Foreclosure Data Bank
Foreclosure Data Bank is a good source of getting foreclosure listing in ND. Here top counties and cities in ND has been emphasized for the foreclosure.
Website: http://www.foreclosuredatabank.com/listings.php?
 
Foreclosure1
Foreclosure1 has displayed all the available foreclosure homes and properties in ND. You can find HUD foreclosure homes, bank foreclosed homes, REOs, FSBOs etc.
Website: http://www.foreclosure1.com/


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