How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties
HomeLight
AUGUST 31, 2021
Again, the timeline varies by state, but this typically begins three to six months after the first missed payment , according to the Department of Housing and Urban Development (HUD). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it.
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