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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]
If no one opts to buy a foreclosure home at auction, the bank or mortgage lender or servicer takes ownership of the property. Bank-owned properties may also be referred to as real estate owned, or ...
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 ...
Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate , foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.
Aug. 27—Yet another lawsuit has been filed against Santa Fe real estate and art magnate Gerald Peters, who has been named a defendant in several complaints filed by creditors this year. The ...
Foreclosure activity is muted: In the years after the housing crash, millions of foreclosures flooded the housing market, depressing prices. That’s not the case now. That’s not the case now.
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