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A-R

foreclosure

A foreclosed property – also known as Real Estate Owned (REO) – is a home that was once customer-owned but has been turned back to the mortgage holder as the result of a foreclosure action or acceptance of a deed-in-lieu of foreclosure. Along with the address, date and sales price is included the mortgage amount, if any, the year of the previous sale of the property and the price paid in that previous sale. We took a walk-through of the house with a local realty company assigned to the foreclosure, and immediately put in a bid—which, thanks to the foreclosure tag, was much less than the estimated asking price of all the properties in the vicinity of the home. The first step to working through a possible foreclosure is to understand what a foreclosure means.foreclosure homes

Keeping tabs on the number of homes sold through contracts for deed or rent-to-own deals …

foreclosure homes

A foreclosed property – also known as Real Estate Owned (REO) – is a home that was once customer-owned but has been turned back to the mortgage holder as the result of a foreclosure action or acceptance of a deed-in-lieu of foreclosure. Along with the address, date and sales price is included the mortgage amount, if any, the year of the previous sale of the property and the price paid in that previous sale. We took a walk-through of the house with a local realty company assigned to the foreclosure, and immediately put in a bid—which, thanks to the foreclosure tag, was much less than the estimated asking price of all the properties in the vicinity of the home. The first step to working through a possible foreclosure is to understand what a foreclosure means.foreclosure homes

Keeping tabs on the number of homes sold through contracts for deed or rent-to-own deals …