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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]
The city of Columbia is the location of 149 of these properties and districts, including all of the National Historic Landmarks; they are listed here, while the properties and districts in the remaining parts of the county are listed separately. Another 3 properties in Columbia were once listed but have been removed.
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 ...
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Foreclosure stripping is the process in which the owners of a foreclosed property will remove fixtures and fittings from the property in an attempt to salvage some of their investment. Malicious foreclosure stripping is done by home owners who render damage throughout the property to significantly decrease its value and cause the foreclosing ...
Herb Baumeister’s macabre double life began to unravel in 1994 when his 13-year-old son found a human skull and a pile of bones in the woods of Fox Hollow Farm, his $1 million estate in ...
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