Sentences with phrase «at a foreclosure sale usually»

Bidding on a property at a foreclosure sale usually requires an all cash bid, by cashiers check which must be paid in full at the end of the auction.

Not exact matches

If obtained at foreclosure sale, usually that indicates there either weren't any bidders or there wasn't a sufficient bid made that satisfied the bank or lien holder.

First and foremost, the term REO (or Real Estate Owned) usually refers to an asset that a bank or lien holder obtains either through a deed in lieu foreclosure process or at a foreclosure sale.

When buying a property during a foreclosure sale, you usually must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process, such as attorney's fees.

This is where the trustee comes into play: The trustee is usually responsible for selling the property at a foreclosure sale.

For borrowers at risk of foreclosure, they usually have more success at keeping their security clearance if they can prove that their mortgage was a sensible loan that did not overextend them at the time and also show they've tried to find a work - out solution, such as a short sale.