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2. Bank-owned properties: What are they and where can I ... - AOL

   www.aol.com/finance/bank-owned-properties-where...

   Homes become bank-owned properties after homeowners default on their mortgages and the bank forecloses. If no one opts to buy a foreclosure home at auction, the bank or mortgage lender or servicer ...

3. Clayton Homes - Wikipedia

   en.wikipedia.org/wiki/Clayton_Homes

   Clayton Homes (or Clayton) is the largest builder of manufactured housing and modular homes in the United States. [ 1 ] [ 2 ] It is a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway . [ 3 ]

4. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   REO sale property in San Diego, California. 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]

5. Repossession - Wikipedia

   en.wikipedia.org/wiki/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.

6. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".

7. Bank walkaway - Wikipedia

   en.wikipedia.org/wiki/Bank_walkaway

   The primary reason for bank walkaways is that a bank expects to lose money by foreclosing – when proceeds from a foreclosure sale are expected to be insufficient to cover the cost of the foreclosure itself, together with securing, maintaining, and marketing the home for sale. Thus, if the bank were to foreclose (taking ownership) and then ...