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I wrote recently about a problem many communities are facing: ghost neighborhoods filled with empty, repossessed houses ripe for crime. Some cities, anxious to maintain property values, have taken ...
The markets hardest hit by the foreclosure crisis are already stuck with an enormous and growing inventory of repossessed houses, now estimated by Lender Processing Services, which tracks ...
A house that has gone through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate owned). In these situations, the owner/servicer tries to sell it through standard real estate channels.
Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers. [1]
Daveyton is a township in the Ekurhuleni Metropolitan Municipality of Gauteng in South Africa. It borders Etwatwa to the north-east, Springs to the south and Benoni to the south-west. The nearest town is Benoni, which is approximately 18 kilometres away.
Initially, the business located repossessed houses and sold the information to real estate agents, expanding by 1998 to cover 100,000 properties in the state of California. [7] [10] In 1996 White teamed up with Hughes Aircraft Research Engineer Ronald Schwarzrock to found Realtytrac Information Systems LLC, with Keane as the lead programmer.
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