Upcoming Foreclosures

What is the difference between bank-owned properties and forclosure properties?

Public Comments

1. The bank had no buyers of the home at auction so the bank purchased the home. (that's bank owned) Foreclosure properties is the bank has not purchased the home.
2. In general, there is no difference. A foreclosure is the legal process used by banks to reclaim ownership of properties for which the owners did not pay as agreed. A foreclosure can be initiated by anyone holding such a monetary lien, including 'owner financed properties'. However, banks/lenders make up about 99% of foreclosures.
3. there is no difference. A foreclosed property is a property re-posessed by the bank...therefore now is bank-owned Eve www.Orlando-BuyersAgent.com