Electronic Foreclosure Process

About the Program

Category: Criminal Justice and Public Safety (Best in Category)

Year: 2010

The focus of this project is multifaceted. By moving foreclosure auctions into Cyberspace, the process has been made more efficient and has provided the opportunity for anyone, regardless of their physical location, to bid on and invest in foreclosed properties located in Pasco County. The ability to quickly and easily access information about properties to be sold, and to bid and pay online, has increased the number homes sold to the public and decreased the number of vacant, foreclosed homes held by banks. Ultimately, an increase in property values can be expected with a commensurate positive impact on local communities. This new process allows bidders to register in advance, make deposits, place bids, monitor auction activity, and, should they win, pay the winning bid amount from the convenience of their homes, offices, or laptops.