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$500 Down Payment
You can buy a HUD owned home with only a $500 down payment. Plus, request up to 3% towards buyer closing costs. More Info

 


Leigh-Jo Anzures - (505) 730-8181
Leigh-Jo Anzures
Rio Rancho Realtor

Call/Text: (505) 730-8181

 

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Distressed Properties

 

What are Distressed Properties?

A home that is offered for sale as a short sale, foreclosure (bank-owned) or HUD home is defined as a distressed property.  Today, approximately 30% of the homes in Rio Rancho are distressed properties.  Below are some distressed property types available on the market in Rio Rancho.

 

Rio Rancho Foreclosures

Foreclosures

Foreclosures are properties owned by banks and made available to the public.  When a home is foreclosed on, it often results in the bank taking ownership.

 

Since banks are not directly in the real estate business, the properties are listed on the open market at bargain prices.  For more information on foreclosures, click here.

 

HUD Homes

When someone with an FHA insured mortgage is unable to make their payments, the mortgage lender forecloses on the property.  FHA then pays the mortgage lender what is due and then HUD (Housing & Urban Development) acquires ownership.

 

These properties are then appraised and listed on the market.  For more information on HUD Homes, click here.

HUD (Department of Housing and Development)

 

VA Homes

The Department of Veteran Affairs, similar to HUD, foreclosed on the property that was purchased with a VA secured loan.  Since the loans are guaranteed by the federal government, the lender receives a full refund of the lost money.  The property is then sold by the Department of Veteran Affairs.

 

Short Sales

A short sale occurs when the lien holder, often a mortgage lender, settles on a loan for "short" than the balance owed.  Since all terms and pricing is subject to bank approval, short sales can take 3 to 6+ months to close, if you're fortunate.  In some cases, it can take over a year to close.  For more information on short sales, click here.

 

Finding Distressed Properties

We've made finding distressed properties in Rio Rancho, easy.  There are three methods you can take advantage of these type of homes.  They are:

 

1)  Use our FREE Map-Based Home Search.  You can begin searching for Rio Rancho distressed properties immediately with real-time search results.  You'll have access to all available photos, virtual tours and property details.  There is no sign-up required.  To begin searching, click here.

 

2)  Setup FREE Listing Alerts.  With listing alerts, you will know when a new distressed property listing that matches your specific interests, hits the market.  You'll know before most real estate agents do.  There's no obligation and you can stop the alerts at anytime.  Setup your alerts today, click here.

 

3)  Allow us to do the searching for you.  Since the seller pays for our services, there is no cost to you for our assistance.  Finding homes is what we do for a living.  We have the best resources and the time to dedicate to helping you find the home of your dreams.  Put us to work for you today.  To connect with a Rio Rancho Realtor, call/text (505) 730-8181 or e-mail us.

 

Questions?

Feel free to call/text us at (505) 730-8181 or e-mail us with questions about buying a distressed property.  Remember, there is no cost to you for our assistance with the purchase of a home.  The seller pays for our services, so take advantage of side-by-side assistance during your journey.

 

 

 
 

Rio Rancho Neighborhoods

 

Cabezon Communities:
      Corazon
      Toscana
      Rancho Oro
      Rancho Plata
      Astante
      Arbolera del Este
      Yucatan
      Yucatan del Estante
      Las Brisas

Rio Rancho Estates
Northern Meadows
Enchanted Hills
Loma Colorado
High Resort
Cedar Hills
Star Heights
Valley Ridge
Sugar Ridge
Diamond Ridge
Mariposa
North Hills
River's Edge I
River's Edge II
River's Edge III
High Range
Panorama Heights
Los Milagros
Western Hills
Southern Park
Sabana Grande
Corrales North
Loma Encantadas
Vista Entrada
Mountain Hawk Estates
Chaco Ridge
Hawksite
Mirador del Sol
Camino Crossing
Vista Hills
Esplanade

Greystone Ridge
Fairways Condos
Star Villa

The Islands
Renaissance Townhomes
Chamisa Greens
Los Pinons
Sierra Norte
Cielo Norte

Corrales Heights
Sara's Meadow
Desert Ridge
Country Club Hills
Sagecrest
Rolling Hills
Greystone Pointe
Arrowhead Ridge
Holiday Park
Trinity Estates
 
 
 

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