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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]
Neighbors would gather in large numbers at the auction and place bids of only a few pennies, while intimidating anyone who attempted to bid competitively. [1] In the end, the bank that owned the farm would get whatever was bid and the neighbors would return the farm and its contents to the farmer. [2]
A HUD auction is a form of foreclosure auction except the original lender was a federal agency instead of a private lender. The United States Department of Housing and Urban Development (HUD), is the insurer of loans made through a variety of government programs, particularly FHA loans .
In 1997 the bank was renamed Affinity Bank and in 1999, AGI transferred ownership to Affinity Bank Holdings, Inc. a separate entity controlled by Adams. [8] U.S. bank regulators closed Affinity Bank of Ventura, California on August 28, 2009. The Federal Deposit Insurance Corp said Affinity had $1 billion in assets and about $922 million in ...
The development, described by Garvin as "a combination of Disney World, Camping World and Bass Pro Shops", will feature a large Camping World store with RV 250 service bays; a five-story, 650,000 square foot (60,000 m 2) permanent RV trade show and exhibition area; a "free-range" campground with dry-camping sites; camping museum; and much more ...
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