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Software. v. t. e. Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1] [2]
en.wikipedia.org
Real estate owned. 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] A foreclosing beneficiary will typically set the opening bid at such an auction for at ...
Pros. These homes can be more affordable since they are typically priced below market value. Compared to foreclosed homes, pre-foreclosure homes can often be in better condition since the ...
A short sale is when a mortgage lender agrees to allow a homeowner to sell their home for less than what they owe on the mortgage. A short sale can help you get out of an underwater situation, but ...
Follow these seven steps to learn how to find a good real estate agent, so that you hire the perfect pro for your purchase. 1. Get preapproved for a mortgage. Sometimes, home shoppers hire a real ...
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