The foreclosure process is a bank or other secured creditor (lender) selling or repossessing a parcel of property after the owner has failed to comply with the mortgage or deed of trust. Commonly, the violation of the mortgage is a "default" in payment of the promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal
REO / Bank Owned Property
REO or Real Estate Owned, is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. As soon as the bank repossess the property, it is listed on their books as REO - Real Estate Owned - and is categorized as an asset (non-performing).
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower.
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Beds: 4 | Bath: 2 | Sq Ft: 1240 | Acres: 0.17 | Built: 1955 | MLS ID: OC15226022 | Status: Active
Great single story 4 bedroom, 2 bathroom home situated on a large corner lot with low block wall enclosed front yard and extra wide driveway. The 4 well sized bedrooms allow everyone their own space and the kitchen features newer counters and cabinets. The private, block wall enclosed property boasts a large rolling door off the driveway with access to the backyard. The private backyard features mature fruit trees, guava, avocado, miniature lemon and lime trees, dragon fruit plants and a pomegranate tree, all fruit bearing. Two storage units are ideal for keeping yard tools and supplies or extra storage, or great for a small art room or hobby area. The versatile room off the garage is ideal for private interior storage or maybe even a
Beds: 1 | Bath: 1 | Sq Ft: 400 | Acres: 0.04 | Built: 1984 | MLS ID: 215035070DA | Status: Active
This furnished park model is located on a lake with southern exposure. Has use of a storage shed an ...
Listing provided courtesy of Power Brokers International
Beds: 3 | Bath: 2 | Sq Ft: 2212 | Acres: 0.32 | Built: 1968 | MLS ID: 15943661 | Status: Active
Calling ALL Investors and Handy Buyers!!! Diamond in a Rough in Searless Valley. With some simple re...
Listing provided courtesy of Savvolio Real Estate Services
Acres: 0.17 | MLS ID: YG15207160 | Status: Active
Corner lot, easy freeway access, utilities on site. (prior home burned and has been cleared off the ...
Listing provided courtesy of Guarantee Real Estate - Fresno
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CACRMLS is current as of 11/24/2015.
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