A foreclosure is a property that is owned by a lending institution. The original borrower was unable to make their mortgage payments in a timely fashion and the lending institution eventually forecloses on the mortgage. The lender then takes ownership of the property and places it back on the market for sale. We can provide buyer clients with a list of bank owned properties in a specific area. These properties can be mailed, emailed or faxed to them upon request.

Posted on Monday, February 2nd, 2009 at 1:48 pm and is filed under Questions and Answers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.