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Bank-owned properties may also be referred to as real estate owned, or REO. You can find bank-owned properties through sources like banks' online listings or RealtyTrac.
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]
First American Bank and Trust Company 115 58 Security Bank of Bibb County Macon: Georgia July 24, 2009: State Bank and Trust Company 1,200 59 Security Bank of North Metro Woodstock: Georgia July 24, 2009: State Bank and Trust Company 224 60 Security Bank of North Fulton Alpharetta: Georgia July 24, 2009: State Bank and Trust Company 209 61
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".
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