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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]
Heard that you can score a great deal when you buy a foreclosure home for real estate investments? Buying foreclosed homes soared in popularity during the Great Recession as a wave of foreclosures ...
Ocean County will end a standoff with the state and resume its sheriff's sales beginning Sept. 3, even as investors continue to cry foul over a new law they say opens the door to fraud, hurts ...
Ocean County has postponed the foreclosure auction scheduled for July 23 amid concerns that unproven nonprofit agencies are taking advantage of a new law that was designed to even the playing ...
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. [1] [2] [3]
This process involves the sale of the property by the mortgage holder without court supervision (as elaborated upon below). This process is generally much faster and cheaper than foreclosure by judicial sale. As in judicial sale, the mortgage holder and other lien holders are respectively first and second claimants to the proceeds from the sale.