Bank Owned Foreclosures in Pender and New Hanover County

Boardwalk Properties welcomes you to our exclusive site for Bank Owned Properties.  We are designed to connect you with properties that rank among the very best in buying opportunity!  Our Bank Owned Properties provide an outstanding opportunity to find real estate from a wide assortment of extremely well-priced properties listed with Boardwalk Properties.


What is a Foreclosure?

As the economy continues to sputter, people are hearing more and more in the news about house foreclosures and short sales. A foreclosure on a house occurs when people are unable to keep up with their mortgage payments and because of this the lender takes ownership of the house from the borrower. When this happens the lender then attempts to sell the house, and any payments made before the foreclosure and the revenue from the sale goes to paying off the loan. If the loan is not paid off from previous payments and the sale of the home, there may be a deficiency judgment made against the borrower to make up the difference.

Another option that people have when they are behind on their mortgage payments is a short sale. This is when someone is trying to avoid foreclosure and gets the bank to agree to write off the loan amount after the house is sold to someone, even if it does not pay off the total amount owed on the loan. This keeps people from having to have a foreclosure on their credit history, while also avoiding a deficiency judgment.

Why do I want to buy a Foreclosed Home?

Many people look to buy houses that have been foreclosed on or are short sales because they tend to be less expensive than other houses, but there are some issues with buying these types of houses that can make the cost less attractive. To begin with, foreclosures can take a while, and even when they are completed it can take a long time for the people living in it to be legally required to move out. Also, when you buy a foreclosed house, the people living in the house have a period of time that they can attempt to bring the loan to current status and keep the house. So you may finalize a purchase and still not be able to get the house.

The term “short sale” makes many people believe that the house sale will go quickly, but the “short” in short sale actually refers to the fact that the bank is taking less money than they are owed. Many shortsales can actually take months. Additionally, what you offer may be accepted by the owner, but the bank that owns the mortgage can still turn your offer down.
While these types of purchases sound like a great deal, due to the lower price, many times buying a foreclosed or short sale house can be difficult and lengthy processes. People can save a lot of money by purchasing houses in these circumstances, but make sure they should be sure they are ready to spend the time and effort involved.




First Preston HT


HUD Homestore

HUD Bidding Procedures




Hudson & Marshall Auctions

Frequently Asked Questions

Newest Real Estate Listings

property image


2034 Big Neck Road Nw, Ash

Rustic Lob Cabin style ranch home offers 3 bedrooms, 2 baths, country porch, screened in porch and the home sits on 1.29 Acres of Land just minutes from the beach. There ...

  • Beds3
  • Baths2
  • MLS100167256

property image


209 Ashley Nicole Court, Swansboro

Located in cul-de-sac this 3 bedroom, 2 bathroom home has a spacious fenced in back yard with rear decking. Covered front porch, garage, fireplace and skylights in living...

  • Beds3
  • Baths2
  • MLS100167224

property image


242 Sand Ridge Road, Hubert

Ideal location in Hubert between Jacksonville and Swansboro! Close to area military base and local elementary school. This 3 bedroom, 2 bathroom manufactured home has ope...

  • Beds3
  • Baths2
  • MLS100166958

property image


9854 Ridge Road Ne, Navassa

Unbelievable opportunity to own this 3 bedroom 1 bath home in this growing area of Navassa! Home is priced too sell and will not last long. Almost an acre of land and c...

  • Beds3
  • Baths1
  • MLS100166725

property image


217 Whispering Pines Court, Hampstead

Wonderful opportunity to own this great 3 bedroom 2 bath home with nearly 1.5 acre of land! Home does need a little TLC and updating but you will not find this kind of d...

  • Beds3
  • Baths2
  • MLS100166681

Copyright 2019 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.

Free Daily Email Updates

  • Automated home searches
  • Favorite properties
  • Email updates
  • And much more…