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There were more houses for sale on the Treasure Coast in October than in September, but they cost more, took longer to sell and fewer sold, according to data Florida Realtors released Nov. 21.
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 ...
The following are approximate tallies of current listings in Florida on the National Register of Historic Places. These counts are based on entries in the National Register Information Database as of April 20, 2018 [2] and new weekly listings posted since then on the National Register of Historic Places website. [3]
A large societal problem associated with foreclosure stripping is devaluation of property in the local area. [2] Because homes are being sold as incomplete, the prices are much lower than others in the area, which brings down the local average property value.
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]
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.