Equity Hard money loan Investor Real-estate owned 
HomeLight
AUGUST 31, 2021
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. This is different than a short sale because a pre-foreclosure seller usually still has equity in the house (meaning the home value is more than their mortgage balance).
HomeLight
MARCH 10, 2023
If you are considering flipping houses in NY, HomeLight always encourages you to reach out to an advisor regarding your own situation. Investors used to get some of their properties from the county auction, but that inventory became limited due to the moratorium on foreclosures during the height of the COVID pandemic.
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