What is the difference between a bank-owned property and a HUD home?

Answer Banks and HUD own property once in possession of a private individual or entity. HUD is the Department of Housing and Urban Development. Many commercial banks offer home mortgages.HUDHUD homes are ... Read More »

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What is the difference between bank owned&foreclosed?

Although closely related, there are important distinctions between a bank-owned home, also known as a real estate-owned (REO) property, and a home that is in foreclosure.ForeclosureWhen homeowners ... Read More »

How to Rent a Bank-Owned Property?

A bank-owned property is the result of an individual or business defaulting on the mortgage payments and the bank takes possession of the property. Renting bank-owned property is generally done wit... Read More »

How to Buy Bank Owned Commercial Property?

Bank owned property, or real estate owned (REO) property, is real estate that was once financed by the bank but defaulted on by the borrowers, leaving the bank to take the property back into its po... Read More »

How Do I Negotiate on a Bank-Owned Property?

You can buy a foreclosed home or bank-owned property directly from a lender or at a property auction. Such homes often sell for below market value because banks typically want to offload these prop... Read More »