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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 .
This map shows the incorporated and unincorporated areas in Marion County, Florida, highlighting Dunnellon in red. It was created with a custom script with US Census Bureau data and modified with Inkscape. Date: 4 September 2007: Source: My own work, based on public domain information. Based on similar map concepts by Ixnayonthetimmay: Author ...
This unfortunate circumstance led to a substantial number of homes being foreclosed upon, which, in turn, precipitated a sharp decline in the housing market. Banks, in the process of foreclosure, acquired the collateral in the form of foreclosed homes. However, the depressed property values at that time meant that these assets had limited value.
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 ...
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]
Florida: January 24, 2001 August 13, 2004 13: Alphonso Jackson: Texas: August 13, 2004 September 1, 2004 September 1, 2004 April 18, 2008 – Roy A. Bernardi Acting: New York: April 18, 2008 June 4, 2008 14: Steve Preston: Illinois: June 4, 2008 January 20, 2009 – Brian D. Montgomery Acting: Texas: January 20, 2009 January 26, 2009 Barack ...