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When the remaining mortgage balance is higher than the actual home value, the foreclosing party is unlikely to attract auction bids at this price level. 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 ...
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]
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. Depending on the type of foreclosure proceeding, the sale may be administered by the courts (judicial foreclosure) or by an appointed trustee (statutory foreclosure). Proceeds from the sale are used ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
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.
A Memphis judge has ruled that a foreclosure auction of Elvis Presley’s iconic Graceland estate in Memphis cannot proceed. Court blocks sale of Elvis' Graceland estate in foreclosure auction ...
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