Below are some short definitions on different types of distress properties: What is a Fixer Property? A Fixer Property is just that, a property that is in need of Fixing, a property that has some kind of deferred maintenance. The maintenance needed can be as simple as minor issues such as updating or as complex as structural needs such as new roof, walls, heating systems, foundations, drainage issues, ect. What is a Foreclosure? The process by which the lender or mortgage holder takes back ownership of a property due to lack of payment by the borrower is called Foreclosure. The process can be done by judicial or non-judicial foreclosure, or sometimes it can be a direct take-over by the mortgage holder. This means that the borrower would not only lose the property in question as he/she is in breach mortgage agreement, but their credit-worthiness and also possibly their equity in their property. What is the N.O.D. LIST (Notice of Default) & Buying on the Court House Steps? When someone defaults on their mortgage & the lender starts the foreclosure process, that information becomes public record. Transnation Title has gathered that information to create the N.O.D Lists which are provided below. **Please remember that the N.O.D List is not a list of properties for sale, it is just a list of properties where the borrowers (the owners) have missed their payments and have defaulted on the terms of their loan agreement.** Once the foreclosure process is over the properties go up for auction on the Court House Steps in the county the property resides in. The Court House Steps only deal in Cash and is a very risky place to buy. Bill Phillips would be happy to discus the complexities of the N.O.D. List & the Court House Steps with you. Please call Bill at 503-317-3334 *The most resent NOD Lists on a weekly bases with the four most active counties in the Portland Metro Area. Washington Clackamas Multnomah Yamhill