Independent guide and listing alerts · Updated October 2026

Foreclosures, rent-to-own and private listings.

Each kind of sale works differently. We explain how, point you to the official listing sources, and email you listings that match the area and home you have in mind.

Get listing alerts How each kind of sale works

Independent listings and information resource. Not a government agency, lender or broker.

White and tan house with a covered front porch and dormer windows
Modern two-story house with a lit front doorway under an evening sky
Foreclosed, rent-to-own or sold by the owner, a house can look the same from the street. The paperwork is what differs.

01

Three kinds of listing, and who each one suits

None of these is a shortcut, and none is right for everyone. Here is what each one actually is.

  1. Houses along a quiet street under autumn trees
    01

    Foreclosures

    Homes sold after a lender or government agency takes them back: by banks, HUD, VA, USDA, Fannie Mae and Freddie Mac, or at a public auction.

    Tends to suit: buyers with a lender’s pre-approval or cash, and room in the budget for repairs.

    Read the foreclosure guide
  2. Hand holding a set of house keys inside a front doorway
    02

    Rent-to-own

    Rent a home now under an agreement that gives you the option, or the obligation, to buy it later at a price agreed up front.

    Tends to suit: renters who want time to save or strengthen their credit before applying for a mortgage, and who will read the contract closely.

    Read the rent-to-own guide
  3. Tudor-style house with a stone chimney and a front walkway
    03

    Private listings

    Homes sold directly by their owners, offered off-market, or sold with the owner acting as the lender.

    Tends to suit: buyers comfortable arranging their own inspection, title search and closing.

    Read the private listings guide

02

Twelve listing types and what they mean

Listing sites use these terms without explaining them. Each card says what the term means, how it usually works, and what to watch for.

These describe types of property, not homes for sale. Real listings come in your alerts and on the official sources below.

Two-story brick house with a white wraparound porch

Foreclosure

Bank-owned (REO)

A home the lender took back after a foreclosure sale, now listed for sale by the lender.

Typically

  • Listed through a real estate agent, often on the local MLS
  • Sold as-is: the seller usually won’t make repairs
  • Offers need a lender’s pre-approval letter or proof of funds

Watch for: deferred maintenance and systems that were shut off while the home sat empty. Budget for an inspection.

How foreclosures work
Gray house with a front porch and steps beside a flowering tree

Foreclosure

HUD homes

Homes the U.S. Department of Housing and Urban Development owns after foreclosures on FHA-insured mortgages, sold through HUD Home Store.

Typically

  • Individual buyers bid through a HUD-registered real estate broker
  • People who will live in the home get an exclusive bidding period first
  • Each listing shows whether it’s eligible for FHA financing as-is, with a repair escrow, or only with an FHA 203(k) renovation loan

Watch for: the bid deadline and financing code on each listing. Uninsured (UI) homes need cash or a renovation loan.

HUD homes, step by step
Blue two-story house with a front porch and palm trees

Foreclosure

VA-acquired homes

Homes the Department of Veterans Affairs acquired after VA-backed or VA-financed loans ended, marketed by VA’s property management contractor.

Typically

  • Listed by local agents on the MLS and on vrmproperties.com
  • Open to Veterans and non-Veterans alike
  • Some properties are eligible for VA Vendee seller financing for qualified buyers

Watch for: the listing’s financing options. Not every property is Vendee-eligible.

Government-owned homes
Rural farmhouse with a wide green lawn and trees

Foreclosure

USDA homes

Previously owned homes for sale by USDA Rural Development and the Farm Service Agency, mostly in rural areas and small towns.

Typically

  • Searched on the USDA-RD/FSA Properties site by state and map
  • Sold by public auction or another method, depending on the property
  • Offers or bids go through an agent, broker or servicing representative

Watch for: special instructions in each listing’s comments, and ask the local USDA office about program financing.

Government-owned homes
Tudor-style house with a stone chimney and a front walkway

Foreclosure

Fannie Mae HomePath

Foreclosed homes owned by Fannie Mae, listed on its HomePath site.

Typically

  • Sold through local listing agents
  • A “First Look” window lets owner-occupants, public entities and nonprofits make offers before investors
  • Each listing shows whether it is still in its First Look period

Watch for: as-is condition and the occupancy certification owner-occupant buyers sign.

Fannie Mae and Freddie Mac homes
White and tan house with a covered front porch and dormer windows

Foreclosure

Freddie Mac HomeSteps

Foreclosed homes owned by Freddie Mac, marketed and sold by HomeSteps, Freddie Mac’s real estate sales unit.

Typically

  • Listed with local agents and on HomeSteps.com
  • For the first 30 days on the MLS, only owner-occupants, public entities and their partners can make offers
  • Earnest money is paid in certified funds, not personal checks

Watch for: the “Agreement of Purchaser” affidavit owner-occupant buyers and their agents sign.

Fannie Mae and Freddie Mac homes
Houses along a quiet street under autumn trees

Foreclosure

Pre-foreclosure

The owner has fallen behind and may be facing foreclosure, but still owns the home and can still sell it.

Typically

  • Sold through a regular listing or a short sale
  • A short sale needs the lender’s approval, which can take time
  • The owner’s own deadlines may be tight, so be clear and patient

Watch for: anyone asking the owner to sign over the deed. The FTC warns this is a common foreclosure-rescue scam.

Foreclosure stages
Aerial view of a neighborhood street grid lined with houses

Foreclosure

Auction / trustee sale

The public sale at the end of the foreclosure process, run by a court officer or a trustee depending on the state.

Typically

  • The property goes to the highest bidder
  • Payment terms are strict, often cash or certified funds
  • Interior viewings usually aren’t possible

Watch for: liens, occupants and redemption rights, which vary by state. Get a title search before you bid.

Buying at auction
Hand holding a set of house keys inside a front doorway

Rent-to-own

Lease-option

You rent the home and pay for the right, but not the obligation, to buy it later at a set price.

Typically

  • An upfront option fee, usually nonrefundable
  • Part of each rent payment may be credited toward the purchase, if the contract says so
  • You can walk away at the end, usually losing the fee and any credits

Watch for: contract terms that cancel your option after one late payment.

Lease-option vs lease-purchase
Two people sitting together on the front steps of a gray house

Rent-to-own

Lease-purchase

You rent now and sign an agreement to buy the home at the end of the lease.

Typically

  • A binding commitment to buy, not just an option
  • Price and timeline are set in the contract up front
  • You’ll usually need a mortgage when the lease ends

Watch for: what happens if you can’t get a loan in time. You could lose money you’ve paid and face claims under the contract.

Lease-option vs lease-purchase
Small model house and a set of keys on a wooden table

Private

Owner-financed

The seller acts as the lender, and you pay the seller in installments instead of getting a bank mortgage.

Typically

  • Terms are negotiated directly: price, down payment, rate, length
  • Some deals transfer the deed at closing; a contract for deed doesn’t until you finish paying
  • Buyers usually pay taxes, insurance and repairs during the contract

Watch for: balloon payments and forfeiture clauses. Have an attorney review the documents before you sign.

Owner financing explained
Modern two-story house with a lit front doorway under an evening sky

Private

For sale by owner / off-market

Homes sold directly by the owner, or quietly offered without a public listing.

Typically

  • You negotiate with the owner, not a listing agent
  • You arrange your own inspection, title search and closing agent
  • Pricing can be anywhere from fair to optimistic, so check recent sales

Watch for: anyone who can’t prove they own the home, or who asks you to wire money before a closing agent is involved.

Buying from an owner

03

Pros and cons of each kind of sale

ForeclosureForeclosures

Why it can work

Lenders and agencies want to sell, and HUD, Fannie Mae and Freddie Mac each give people who will live in the home a first chance to bid before investors can.

What to weigh

Homes are usually sold as-is and may need repairs. Auctions can carry title and occupancy risks, and homes that need major work can be harder to finance.

Rent-to-ownRent-to-own

Why it can work

You move in now, agree on a purchase price up front, and use the lease term to save and build your credit before you apply for a mortgage.

What to weigh

Option fees are usually nonrefundable and rent may be higher than the going rate. If you miss a payment or can’t get a loan at the end, you can lose what you’ve put in.

Private listingPrivate listings

Why it can work

Dealing directly with an owner can mean flexible terms, sometimes including owner financing, and homes that never appear on the big listing sites.

What to weigh

No listing agent is checking the paperwork. You’ll need to verify ownership, arrange a title search and inspection, and keep deposits in escrow.

04

What are you looking for?

Tell us the basics and we’ll set up listing alerts around them. Matching listings are sent by email, and by text if you choose, as they come up.

For rent-to-own, think about the purchase price you’d aim for at the end of the lease.
Listing type
Bedrooms
When would you like to move?

This panel doesn’t search a database or show homes here. It carries your choices into a short sign-up form, and we send listings that fit them as they come up. Listing details are set by sellers and third parties, so always verify them with the source.

05

How listing alerts work

One short form. Then we watch for listings and send you the ones that fit.

  1. 01

    Tell us what you want

    Choose the listing types you’re interested in, your ZIP code or city, and basics like bedrooms and budget. Only your email is required.

  2. 02

    We watch for listings that fit

    When foreclosure, rent-to-own or private listings that fit your choices come up, we send them to you by email, and by text if you opt in. How often depends on what’s listed in your area.

  3. 03

    You check them at the source

    Each alert points you to the seller, the listing agent or the official site, so you can confirm the details, ask questions and decide for yourself.

Signing up costs nothing, and it isn’t an application for a home or a loan. Unsubscribe anytime.

Set up my alerts

06

Official listing sources

Government agencies, Fannie Mae and Freddie Mac publish their own for-sale homes. These are the official sites. Bookmark them, and always confirm listing details there or with the listing agent.

Government-owned homes

Official site

USDA-RD/FSA Properties

properties.sc.egov.usda.gov

Run by the U.S. Department of Agriculture, Rural Development and Farm Service Agency

Single-family and multi-family homes, farms and ranches for sale by the federal government, by public auction or another method depending on the property.

Visit USDA Properties (opens in a new tab)

Fannie Mae and Freddie Mac homes

Official site

Fannie Mae HomePath

homepath.fanniemae.com

Run by Fannie Mae

Foreclosed homes owned by Fannie Mae, with First Look status shown on each property.

Visit HomePath (opens in a new tab)

Federal auctions and sales

Official site

U.S. Treasury Seized Real Property Auctions

treasury.gov

Run by the U.S. Department of the Treasury (sales handled by its contractor, CWS Asset Management and Sales)

Seized and forfeited real property nationwide and in Puerto Rico, including single and multi-family homes. Auctions are open to the public and you don’t need a broker to bid.

View Treasury auctions (opens in a new tab)

Official site

GSA Real Estate Sales

realestatesales.gov

Run by the U.S. General Services Administration (GSA)

Surplus federal real property sold to the public through competitive sales and online auctions.

Visit RealEstateSales.gov (opens in a new tab)

US Home Assistance is not affiliated with any of these agencies or companies. Names are used only to identify the official sources. Rules and programs can change, so check each site for current terms.

07

Six checks before you send anyone money

  1. Confirm who owns the home.

    Look the property up on your county tax assessor’s or recorder’s website and make sure the owner’s name matches the ID of the person you’re dealing with. The FTC lists sellers who don’t actually own the property among the common rent-to-own problems.

  2. Don’t pay by wire transfer, gift card or cryptocurrency.

    The FTC says paying that way is like sending cash: once it’s gone, you probably can’t get it back.

  3. Walk away from pressure.

    Fake sellers rush you and find reasons you can’t see the home. A real seller can wait while you check.

  4. Keep deposits in escrow.

    Earnest money and option fees should go to a title company, escrow agent or attorney, and always get a receipt.

  5. Have the contract reviewed.

    Rent-to-own and owner-financing contracts vary widely. A real estate attorney or a HUD-approved housing counselor can explain what you’re agreeing to.

  6. Never sign over a deed to “save” a home.

    If you own a home and are behind on payments, the FTC warns (opens in a new tab) that deed-transfer and “rent-to-buy” rescue offers are a common scam, and that it’s illegal for a company to charge you upfront for mortgage relief.

“If anyone pressures you to make a decision quickly, walk away.”

Federal Trade Commission, Rental listing scams (opens in a new tab)

Helpful links

Consumer Financial Protection Bureau

Find a HUD-approved housing counselor

A CFPB tool powered by HUD’s list of approved agencies. Counselors can advise on buying, renting and foreclosure, often at little or no cost.Visit official site (opens in a new tab) Federal Trade Commission

What you need to know about rent-to-own home deals

The FTC’s consumer alert on how rent-to-own deals work and the problems people run into.Visit official site (opens in a new tab) Federal Trade Commission

Rental listing scams

How fake listings work, the payment methods scammers ask for, and how to check who owns a home.Visit official site (opens in a new tab) Federal Trade Commission

Report a scam

ReportFraud.ftc.gov, the Federal Trade Commission’s reporting site.Visit official site (opens in a new tab)

Every listing type has its own rules. Learn them before you bid, lease or sign.

A suburban neighborhood at sunset. Homes sold by banks, by agencies and by their owners can sit on the same street.

08

Questions about listing alerts

More questions in our FAQ

What is US Home Assistance?

An independent listings and information resource. We explain foreclosures, rent-to-own homes and private listings in plain English, link to official listing sources, and send listing alerts to people who sign up.

Is US Home Assistance a government agency?

No. We’re privately operated and not affiliated with HUD, FHA, VA, USDA, Fannie Mae, Freddie Mac or any other government agency. We link to official government sites so you can check their listings and rules directly.

Does it cost anything to get listing alerts?

No. Signing up and receiving email alerts is free. We don’t charge for texts either, but your carrier’s message and data rates may apply if you opt in to text alerts.

Does signing up mean I’ve applied for a home or a loan?

No. Signing up only means we send you listing alerts and guides, which may include offers and promotions. It isn’t an application, it doesn’t mean you’re approved for anything, and it doesn’t reserve a property.

Get listing alerts for your area

Tell us your area and the kind of home you’re after. We’ll send matching foreclosure, rent-to-own and private listings as they come up, by email and by text if you choose.

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