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Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate , foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
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Risk of foreclosure. Like cash-out refinancing, home equity loans use your home as collateral. Missing payments on either your first or second mortgage could put your home at risk of foreclosure ...
In 2010, the area ranked fourth in the nation in the number of foreclosures, with one filing for every 133 households. [47] The problem of abandoned homes became so great that the city of Perris initiated a program to paint the brown lawns of abandoned homes green as a way to reduce the appearance of blight. [48]
Because mortgages are granted based on a home’s appraisal value, and because both real estate agents and loan officers make commissions based on the sale price, they may cooperate with an ...