When a homeowner defaults on their mortgage, and is unable to continue making payments, a home can end up in foreclosure. Foreclosure listings are a list of homes in a particular area that have been foreclosed on by a bank and taken back from the homeowner. These foreclosed properties are frequently put back on the market by the bank at a discount. It’s important to know when purchasing a home whether or not it has been foreclosed on. This is because you may be able to get a deal on the home. You may also want to know so that you can be aware of potential risks with purchasing a foreclosed home.