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A home becomes a bank-owned property after the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned or REO homes, REO ...
Real estate owned (REO) properties offer the opportunity to purchase homes for attractive prices to home buyers who can navigate the specifics of how these properties come to market. REOs usually ...
With more and more "distressed" (foreclosed) homes up for sale, a bank-owned home may be the way to go if you are considering buying a house. But experts say buying from a bank is very different ...
John W. Springer, a wealthy man with ties to politics, banking, and law, owned the ranch from 1897 to 1913. He sold the Mansion to his father-in-law, Col. William Hughes, who renamed the property "Sunland Ranch". Springer's daughter, Annie Clifton Springer Hughes, inherited the home after Col. Hughes passed in July 1918.
The trustees decided in 1991 that senior housing was no longer needed because of the number of other programs and could not be afforded. After a trial by residents, it was ruled that the home should remain open. Existing residents could stay for free. Anyone that came to live at the home thereafter would make payments toward their expenses. [1]
To many residents who lived in Colorado Springs in the years since, Palmer became known as "the man on the iron horse". [75] Many of the large homes in Colorado Springs were made into apartment houses or became boarding houses during the Depression of the 1930s and when there was a housing shortage during World War II. Some homes were also ...