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


1144 Holly Drive, Sneads Ferry

Two bedroom Brick ranch home located in Sneads Ferry just outside the backgate to Camp Lejeune on a .55 acre parcel of land.

  • Beds2
  • Baths2
  • MLS100134571

property image


508 Cherry Blossom Lane, Richlands

Close to airport, only mins from shopping, eateries, clinics and other amenities, spacious, priced to sell

  • Beds3
  • Baths2
  • MLS100134439

property image


245 Hinson Lane, Richlands

Who doesn't love a place in the country to call their own? This home with 3 spacious bedrooms, 2 baths, a large living room, wet bar, large kitchen with formal dining roo...

  • Beds3
  • Baths2
  • MLS100134436

property image


2042 W Windgate Court, Jacksonville

Nice property with 4 bedrooms and 2 full baths. Detached 1 car garage with a deck for those quiet evenings outside. located close to the areas commerce and employment c...

  • Beds4
  • Baths2
  • MLS100134403

property image


219 English Walnut Drive, Richlands

Gorgeous, updated home in Walnut Hills! New carpeting, paint, roof, kitchen cabinets and granite counters. Has 4 bedrooms, open living/kitchen combo and sunroom/dining ...

  • Beds4
  • Baths2
  • MLS100134331

Copyright 2018 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…