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2. Bill McMachen of Michigan Buys Hundreds of Foreclosed ... - AOL

   www.aol.com/news/2012-08-03-bill-mcmachen...

   For around $4.7 million, you might be able to snag one gleaming, top-of-the-line luxury home in a top market. In Michigan's Macomb County, though, it bought one man 627 homes. Bill McMachen, who ...

3. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...

4. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]

5. AOL - Finance News & Latest Business Headlines - AOL.com

   www.aol.com/real-estate

   There may not be a lot of homes for sale these days, but there is a lot of housing space sitting empty. Reuters 23 days ago US single-family housing starts surge; permits up slightly

6. Repossession - Wikipedia

   en.wikipedia.org/wiki/Repossession

   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]

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