Where To Find Million-Dollar Foreclosures

Foreclosures in the Million $ homes prices ranch are more than ever on the market now, the increase in negative equity situations causing some million dollar-plus homes to get listed as foreclosures and REOs, it's not necessarily because buyers didn't put down money or had a second mortgages, many of the high-end foreclosure market were traditionally good borrowers, but home values are dropping more than a few percentage where the mortgage values surpasses market values.

Home owners not being able, or not wanting to, make payments, walk away from their homes, the California market is set for this kind of situation, a company in San Diego called YouWalkAway.com charges $1,000 to guide clients through the process of leaving their mortgages. It was launched in January 2008, and says it has signed up 180 clients.

California is a safe haven for these type of borrowers, since banks that repossess homes and sell a foreclosed property for less than the mortgage cannot come after borrowers for the difference, as long as it was the initial mortgage, one that has not been refinanced.

Your REALTOR is the best place to look first, second place to find such homes is through Web sites like RealtyTrac.com and REOtrans.com.

Here is a Million dollar foreclosure slide by Forbs.com
looking for foreclosure assistanceForclosure help


and finally check out this foreclosure radar