Industry NewsNews Brief

Make the most of Zillow’s new foreclosure database

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Zillow has launched a new free service allowing consumers to retrieve information on 1.2 million homes that are either in the foreclosure process or owned by lenders -- including details like the property's address and how much the borrower owes. This decision may have both positive and negative consequences for Zillow, consumers, as well as for the Realtor community.Zillow is no stranger to controversy. Its latest move to make information about homes that are in the foreclosure process available even if the homes are not for sale will no doubt cause volumes of angry responses from the real estate community. I have no issue with Zillow providing information on bank-owned properties that have completed foreclosure process and become "real estate owned" (REO).But providing details about properties that are still in the midst of the foreclosure process may pose substantial risks to the current homeowners. Zillow certainly has a legal right to leverage public information to su...