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Real Estate & Mortgage Forum > Real Estate Questions & Answers > Real estate Information (Moderator: Cathy) > 

what's the best loan program for a distress property

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Author Topic: what's the best loan program for a distress property  (Read 437 times)
handymanvegas
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« on: June 09, 2009, 02:45:08 PM »
it's going to need some work to get in up to standard to sell.
kali.rani4
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« Reply #1 on: May 05, 2010, 11:06:38 PM »
The funds gained from the auction are used to cover the mortgage debt. (See Trustee’s Sale below). The lender often bids to buy the property so it can be sold to recoup the amount owed on the original loan. Once the lender has bought the property, the property is marketed as a foreclosed property or REO  property.
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