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2. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   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]

3. Repossession - Wikipedia

   en.wikipedia.org/wiki/Repossession

   Repossession. Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers.

4. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   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 ...

5. Preforeclosure: What it is and how it works - AOL

   www.aol.com/finance/preforeclosure-works...

   Preforeclosure is the first step in the foreclosure process, and it usually begins when a homeowner is 90 days past due on their mortgage. When you’ve missed three mortgage payments, the loan ...

6. What is a deficiency judgment? - AOL

   www.aol.com/finance/deficiency-judgment...

   The foreclosure sale proceeds total $190,000, leaving a deficiency of $10,000. The lender spent $40,000 on the foreclosure process. It decides to file for a deficiency judgment for the deficiency ...

7. Foreclosed Homes for Under $50,000 - AOL

   www.aol.com/2008/01/28/foreclosed-homes-for...

   Foreclosed Homes for Under $50,000. Aol Real Estate Contributor. Updated July 14, 2016 at 6:12 PM.