Foreclosure

What Is Bank-Owned Property?

Bank-owned property, also known as real estate owned (REO) property, refers to properties that were not sold during a …

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What Is an Absolute Auction?

One type of auction is known as an absolute auction, and in this kind of auction, the sale is given to the person who…

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Buying a Foreclosed Home

Before the 2007-2009 mortgage crisis, purchasing a foreclosed home was difficult. Real estate bargain hunters had to …

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What is Sheriff’s Sale

Sheriff's sale , which is a public auction, real estate that has been repossessed after the owner has defaulted on …

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What is a Judicial Foreclosure?

The term "judicial foreclosure" refers to the process of repossessing a property through the courts when ther…

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The 6 Phases of Foreclosure

Foreclosure is the procedure by which a lender can recoup the amount owed on a defaulted loan by selling or seizing t…

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What Is a Short Refinance?

A borrower who is currently behind on their mortgage payments may be eligible for a short refinance, which is a term …

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What Is a Workout Agreement?

A workout agreement is a contract that is mutually agreed to between a lender and borrower to renegotiate the terms on …

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