I am raising money for Diana a single unemployed mother who need help to open her recycling business. She wants to recycle old car batteries and oil. Please chipIn. Any amount will help. Thank you.
Thursday, October 6, 2011
Wednesday, September 28, 2011
Monday, September 19, 2011
what is the difference between foreclosure, REO, Bank Owned, HUD/VA property and Short Sale homes in the vintage point of a Buyer?
- Foreclosure is a the process the mortgagee (any entity or private individual who lend money to purchase the property) use to take back property from a home owner who has defaulted in his/her mortgage payment.
- REO meanning Real Estate Owned is a property owned by a lending entity after being foreclosed. Usually, when this entity is a bank, they just use the term Bank Owned.
- The Department of Housing and Urban Development HUD a government entity, insures low income/credit challenged to buy a home. When theses homes become foreclosed, they are own by HUD and put on the market for sale.
- VA is another government entity which guaranty military and their family member loans to purchase a home. When they default on this type of loan, the property is reverted to the VA administration and put for sale on the market.
- Short Sale is a property on the market where the Lender agreed to take a loss on their investment in order to help the home owner sell it for less than he/she/it owns but, at a market fair value.
Thank you and don’t forget to visit our website at www.nafidiallorealty.com to search for houses in the whole USA.
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