Real estate blog entries tagged with distressed properties by Charter Lending

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Home : Blogs : Dave Presnell : Dave Presnell's Blog : Tag "distressed properties"

distressed properties: What’s the Big Deal About Foreclosures, Anyway? - 07/18/08 10:50 AM

Everywhere you look there are signs about "bank owned" homes, and "foreclosed" homes. What's the big deal? Aren't these houses in a bad part of town, and in really awful condition? What does "bank owned" or "foreclosed" even mean?

Well, bank owned and foreclosed mean essentially the same thing: the person who last bought the home and financed it with a mortgage for whatever reason was unable to make the payments. It may be that they simply bought more house than they could realistically afford, selected a loan program that led to payments they were unable to make, suffered a … (5 comments)

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