How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties
HomeLight
AUGUST 31, 2021
A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. A home goes through several steps before the bank physically takes over the house and sells the property. Bank-owned/REO sale. Source: (Adam Wilson / Unsplash). What is a foreclosed home? Auction sale.
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