Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".

If you are interested in buying a foreclosed home there are many Forclosure Listing companies where you can search foreclosed homes in your area. The largest in foreclosure.com where you can find Forclosures.