Posts tagged bank owned properties
After Foreclosure: A Housing Surplus

Of the 74.5 million homes in the United States approximately 45 million homeowners borrowed money to buy their homes.   Out of these 45 million, six million homeowners have already lost their homes to foreclosure and another ten million are underwater, which mean their homes are worth less than their mortgages.[1] Potentially over 16 million homes could be bank owned and on the market as REO properties.

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