Unity Home Group® has created this list of foreclosure properties that are currently on the market. Purchasing a short sale property is in most regards the same as a traditional purchase, but the language in the contracts will differ, specifying that the terms are subject to the lender’s approval. REO is an acronym for Real Estate Owned and is industry jargon for foreclosure property repossessed by banks or lenders.
Any one of them would be serious,” said George Roddy, president of the Foreclosure Listing Service. If a VA-eligible borrower bids on a foreclosed property at a foreclosure sale auction, he or she may discover that a large sum of cash is to be delivered as quickly as 48 hours after the bid is accepted.
Lenders may be favoring short sales versus waiting for troubled loans to go through the foreclosure process to take back the homes securing the loan, said Daren Blomquist, a vice president at RealtyTrac. A foreclosure consists of a lender trying to reclaim the title of a property that had been sold to someone using a loan.
That’s why Associa sits atop an ever-expanding pyramid of companies that Carona has created to cash in on all the ancillary services his HOA clients need: an insurance agency selling liability and property casualty policies, a document-production company that provides the records needed when homes are bought or sold, a 24-hour maintenance service for house repairs and upgrades and a collections company that targets delinquent homeowners.
Call the agent whose name is on the sign and inquire about other foreclosure listings that may be coming on the market. Plus, it’s better to be honest than optimistic, at least when it comes to homes. This signifies that a home has been through foreclosure and the lender is selling it.