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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. [1]
A house that has gone through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate owned). In these situations, the owner/servicer tries to sell it through standard real estate channels.
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. By January 2008, the inventory of unsold new homes was 9.8 times the December 2007 sales volume, the highest value of this ratio since 1981. [ 78 ]
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Brackenfell is a town in the Western Cape province of South Africa, situated on the N1 about 30 km (17 mi) north-east of Cape Town and 35 km (22 mi) south-west of Paarl. Regarded as the “gateway” to the Cape Winelands , the town marks the start of the Bottelary Hills Wine Route which follows the scenic Bottelary Road to Stellenbosch , about ...
Additionally that month, casino officials confirmed a June 28 reopening date. After receiving approval from state gaming regulators, the property opened on June 27, 2018. [6] [65] In July 2018, the Ocean Resort Casino launched an online casino with over 50 available slot games. Players must be in New Jersey and at least 21 years of age to play ...