Our range of Oklahoma home foreclosures for sale features a wide variety of beautiful, high quality homes suitable for almost anyone’s budget limits. The Oklahoma foreclosure listings are updated daily and always feature the best, new deals on the market.
Search through the best listings of foreclosures in Oklahoma. We provide foreclosed homes and auctions in the major Oklahoma cities. Choose a city and fing an excellent deal for you!
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Oklahoma got its nickname, the Sooner State, because, in 1889, Indian Territory opened up to settlers. The Land Run ...
Tulsa is the second largest city in all of Oklahoma. It is also the 47th largest in America having ...
The current housing market is currently displaying an increase in market prices all across Oklahoma; this includes Oklahoma home foreclosures. According to recent statistics, prices are averaging at just about $149,000. Despite this increase, household prices and Oklahoma foreclosures can still be found to have modest price levels and vary enough to maintain a competitive position in the Oklahoma housing market.
Oklahoma is situated in the southern region of North America, sitting just above Texas and between the bordering states of Kansas, Missouri and Arkansas. Oklahoma also has a strong cultural heritage connected with Native Americans. In fact, Oklahoma contains about fifty Native American tribes within its borders along with wide demographics to match. The land is comprised of several contrasting regions with the most prominent ones being the Ouachita Mountains situated in the southern region; the Rev River Valleys located in the south, which feature mild sloping meadows and forested areas; and the Ozark Plateau located in the northern region, featuring interweaving rivers and wide-scoping flatlands. The state's climate is known to fluctuate dramatically between seasons, often with harsh winters followed by scorching summers of up to 90 degrees F and above.
Oklahoma's capital city shares its namesake with the state and also the largest city in the state, with a population of 579,999 people. Other major cities include Tulsa, Lawton,Yukon, Stillwater and Norman. Some of the major counties include Canadian County, Cleveland County, Oklahoma County and Comanche County, with Oklahoma County being the most densely populated.
The state's economy flourishes in its agricultural industry with its strongest being on its beef and cattle, which Oklahoma is widely known for. The production of crops also contributes a large sum of revenue for the industry, including crops such as wheat, greenhouse plants, cotton, grains and oats. The most important products in the mining industry include natural gas and petroleum, which account for a large majority of the industry's profits. Oklahoma also has a thriving mining industry; they mine many minerals including sand, gravel, and crushed rock, just to name a few. The manufacturing industry's most important sectors include the production of machinery, as well as parts for household appliances such as refrigerators and microwaves. The two other main contributing sectors to the industry include the production of aviation parts and other associated transport equipment, along with computer peripheral parts and microchips.
Oklahoma allows both judicial and non-judicial foreclosures. Non-judicial foreclosures occur when a mortgage or deed of trust contains a power of sale clause, allowing the lender to pursue a foreclosure without the sanction of the court system. However, because of Oklahoma state law, this type of mortgage clause is very difficult for a lender to obtain, so most foreclosures proceed through the judicial system.
After sending any required warnings to the borrower (homeowner) of their intent to foreclose, the lender may pursue foreclosure by filing a suit (known as a Lis Pendens) against the homeowner in court. A notice of the suit is delivered to the homeowner, who is given 20 days in which to respond. If no response is made within those twenty days, or there is sufficient evidence to indicate default, the court can rule against the homeowner and schedule a foreclosure sale of the property. However, the homeowner may halt the foreclosure sale by paying off the default debt owed to the lender at any point up until the sale occurs.
A notice of sale must be published in a local newspaper every day for four consecutive weeks beginning 30 days prior to the sale at most.
At the sale, the property is auctioned off to the highest bidder by the county sheriff, like in most other states. If the property has been appraised prior to the sale, and that value has been made known to the sheriff, the opening bid must be at least two thirds of the appraisal value. If no appraisal has been made, there is no minimum bid. Immediately following the sale, the winning bidder must provide a ten percent deposit and pay off the remaining balance within 30 days.
The county court must confirm the sale before any ownership is transferred, which takes about 15 days. During this time, the original homeowner has the right, under Oklahoma foreclosure law, to redeem their home through paying the amount owed to the lender. The lender may file for a deficiency judgment if the full value of the homeowner's loan is not satisfied by the sale of the property, but this must be done within 90 days of the sale.
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