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Foreclosures >2. What Is a Bank Owned Property?

When a home owner misses payments on his or her mortgage, the loan becomes default and the home or property becomes distressed. What happens next depends on an appraisal and the equity of the home. If short sale isnt a viable option for the home owner and the lender, the foreclosure process takes over and the home or property goes up for foreclosure auction.

A bank-owned property (also referred to as a "real estate owned" or "REO" property) is one that was up for sale at a foreclosure auction but did not sell and therefore now belongs to the lender (usually a bank, but can also be any government agency or loan insurer.)

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Q	What criteria determines the hottest real estate markets?
A	Job/personal income growth; population/household growth; housing affordability/appreciation; and current inventory of homes for sale.
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Lucy & Bill Rudolph, REALTORŽ, real estate agent and broker for Brentwood, Nashville, Williamson County, and Franklin Tennessee home listings, property and land for sale - NUMBER1EXPERT(tm)

Lucy & Bill Rudolph and Lisa Rudolph Turner
Prudential Woodmont Realty
5107 Maryland Way Suite 100
Brentwood, TN. 37027
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Business Office: 615-377-1310
Lucy's Digital: 615-973-3037
Bill's Digital: 615-838-4724
Fax: 615-376-3521
Broker's Office: 615-661-7800
Email: reindeerteam@NUMBER1EXPERT.com
Lucy and Bill Rudolph's team, the "Reindeer Team", are two of America's NUMBER1 Real Estate EXPERTS in Brentwood, Nashville, Franklin and Williamson County. They are well equipped to guide you thorough all your real estate needs. If you are planning to buy, sell, or buy and sell a home, in Middle Tennessee or are thinking about it, give them the opportunity to show you how their services will benefit you. With a combined total of 27 years experience in real estate industry, this team is well seasoned, honed and organized to get your home bought or sold in a very professional manner. Lucy and Bill have lived in Brentwood for 37 years and know the areas they concentrate in very well. They have deep roots there, having reared a family, made lots of friends and know a lot of people. You can count on their being solid, dependable, honest and trustworthy. Call or email them today!!!

www.reindeerteam.com is brought to you by Lucy & Bill Rudolph
NUMBER1EXPERTS™ for Brentwood real estate TN, Nashville real estate, Williamson County real estate, and Franklin real estate, homes for sale and home buying in Franklin County and Williamson County, Tennessee

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