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  2. 'Shadow REO': As Many as 90% of Foreclosed Properties ... - AOL

    www.aol.com/2012/07/13/shadow-reo-as-much-as-90...

    A pretty, manicured home sits six doors down from Phil Faranda's in Briarcliff Manor, N.Y. To look at it, most passersby would think that the tidy house is occupied by a nice family that gives it ...

  3. Home foreclosures are soaring nationwide – and rising fastest ...

    www.aol.com/finance/home-foreclosures-soaring...

    In South Carolina, foreclosures surged 51%, while Missouri saw a 50% jump and Pennsylvania a 46% increase. Foreclosures in Texas rose 7%, and in Indiana they climbed 0.8%.

  4. What is the right of redemption? How it works during foreclosure

    www.aol.com/finance/redemption-works-during...

    If you’re facing foreclosure, the right of redemption gives you a legal pathway to keep or regain your home, by paying back the entire outstanding loan, plus interest and fees. The right of ...

  5. 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 ...

  6. Foreclosure - Wikipedia

    en.wikipedia.org/wiki/Foreclosure

    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]

  7. Subprime mortgage crisis - Wikipedia

    en.wikipedia.org/wiki/Subprime_mortgage_crisis

    He concluded that the extent of equity in the home was the key factor in foreclosure, rather than the type of loan, credit worthiness of the borrower, or ability to pay. Increasing foreclosure rates increases the inventory of houses offered for sale. The number of new homes sold in 2007 was 26.4% less than in the preceding year.

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