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Homes become bank-owned properties after homeowners default on their mortgages and the bank forecloses. If no one opts to buy a foreclosure home at auction, the bank or mortgage lender or servicer ...
Owned by the Catalina Council of the Boy Scouts of America from 1945 to 1957. [53] [54] The historic park is now owned by the city of Tucson. It was listed in the National Register of Historic Places in 1978, ref.: #78003358. The following is a brief description of the images related to the fort. [9]
REO sale property in San Diego, California. 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 primary reason for bank walkaways is that a bank expects to lose money by foreclosing – when proceeds from a foreclosure sale are expected to be insufficient to cover the cost of the foreclosure itself, together with securing, maintaining, and marketing the home for sale. Thus, if the bank were to foreclose (taking ownership) and then ...
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In 1970, the ranch was purchased by Robert Hartman for $260,000. It was next sold in 1983 for $3 million to Pointe Partners. The property then ended up under bank ownership after foreclosure by Standard Chartered Bank. In 1993, a group of investors led by Jed C. Paradies purchased the property from the bank for $1.6 million. [9]
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