Question

 What happens after a bank buys a foreclosure?

Answer Typically, after a foreclosure the bank that owned the property will retain it as a REO (Real Estate Owned) property and attempt to resell it. Depending on the bank, it may keep it and assign it to... Read More »
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Top Q&A For: What happens after a bank buys a foreclosure

Can a bank sue you if you go into foreclosure?

Yes, a bank can sue a borrower for nonpayment on a debt if the borrower goes into foreclosure. However, it is rare and dependent upon the situation as a whole.Source:DeficiencyJudgments.com: How De... Read More »
http://www.answerbag.com/q_view/1931685

What happens in a bank foreclosure?

When a lender makes a mortgage loan to a borrower, the home being purchased is pledged as collateral against default on the loan. If a borrower defaults, the bank has the right to foreclose on the ... Read More »
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How does a foreclosure affect a bank?

A foreclosure affects a bank in many ways, costing banks time and money. They have to concentrate on getting rid of foreclosures which takes them away from their primary business activities.Lowere... Read More »
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What is meant by bank foreclosure?

You may encounter the term "Bank Foreclosure" when shopping for a house. This means that the house has been repossessed from the prior owner and is now bank property. In most situations, the previo... Read More »
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