Posts with tag bank-owned homes

By Diana Olick REO is one of those terms that you hear a lot lately but can't quite place. And for people of a certain age, it calls to mind a certain 1970s and '80s rock band. Alas, that's not the REO of which we speak. So what is an REO? CNBC explains. What is an REO? REO stands for Real Estate Owned. It is actually... Continue Reading »

While the number of foreclosures nationwide is thankfully coming down from its peak during the housing bust, there are still quite a few languishing out there. All signs do point to a strong housing recovery, with existing home sales edging up and distressed mortgages accounting for fewer of those sales, according to the... Continue Reading »

By Les Christie Borrowers are discovering that their foreclosed homes are coming back to haunt them -- long after they have moved out. In these so-called zombie foreclosures, borrowers move out of their homes after their bank schedules a foreclosure auction only to find out months or years later that the auction never... Continue Reading »

Miami home resales are hot and have been driving the market upward for about the last year and a half. But the condos and houses that are the force behind the upswing aren't the most desirable of the lot. There are several factors affecting the recent drop in prices and boom in resales which often are not detailed in... Continue Reading »

Thanks to the homebuyer tax credits, housing prices increased 7.9 percent quarter over quarter in the U.S., according to the Clear Capital Home Data Index. Clear Capital also believes there is a "cushion against potential future declines and the start of a double-dip." Adding to the good news, Clear Capital found that the... Continue Reading »