US Bank is a large originator and servicer of mortgages. US Bank originally started in Cincinnati as First National Bank of Cincinnati in 1863. Throughout their long history, US Bank has grown to be the fifth largest bank in the United States.
US Bank foreclosure listings become available when customers stop paying their mortgages. When this occurs, US Bank will foreclose and the property becomes Real Estate Owned (REO). US Bank collects payments (services) for both their own investments and those of other investors.
How do you purchase a foreclosure from US Bank? US Bank does not sell US Bank foreclosure listings directly to the public. They use a real estate agent, auction company or other disposition company to sell the property. In some cases, US Bank ends up transferring the foreclosure property to the mortgage note investor and they will in turn sell it. Often, US Bank uses a third-party asset management company to manage the process.
US Bank does not provide a list of US Bank foreclosure listings. Properties will be most often be listed with a local real estate agent and should be in the multiple listing service (MLS). You can read more about US Bank foreclosures on their website.