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


733 Stonewall Avenue, Jacksonville

Greystone cul de sac location with over an acre. Has some fencing, large back deck and double car garage. Conveniently located to schools, services and MCAS New River. ...

  • Beds3
  • Baths2
  • MLS100143240

property image


3559 Straw Pond School Road, Roseboro

Enjoy the quiet rural living in this three bedroom two bath home located in the northern portion of Sampson County. The home is close to schools in the area and approx. 1...

  • Beds3
  • Baths2
  • MLS100143235

property image


110 Hickory Grove Drive, Jacksonville

2 Bedroom, 2 bath townhome near military bases and beaches. Sold ''as is''. Proof of funds required with all cash offers. $49,900.

  • Beds2
  • Baths2
  • MLS100143151

property image


400 Foxtrace Lane, Hubert

Located on corner lot in Hubert few miles from Camp Lejeune. Clean 3 bedroom 2 bath home with laminate flooring in living room and bedrooms, tile kitchen and bathrooms. F...

  • Beds3
  • Baths2
  • MLS100143146

property image


2921 Faison Highway, Clinton

Enjoy all the space this home and property has to offer today's residents. This three bedroom three bathroom home rests on a large 15.48 acre tract of land just minutes f...

  • Beds3
  • Baths3
  • MLS100143092

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…