5/20/2014

Distinguish "Foreclosed Property" from "Acquired Asset"

When a property owner fails to pay his MORTGAGED PROPERTY, the property will be foreclosed by the bank and that property becomes FORECLOSED PROPERTY. A foreclosed property becomes an ACQUIRED ASSET of the bank after the release of the Court's decision to convey the ownership of the property in favor of the bank. The Court Order usually comes with an eviction provision if there are occupants that need to be evicted.


If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
Thank you so much for visiting my site. May God Bless You!

4 comments:

Justin Torres said...

You really enlighten us about this 'Foreclosed Property' and 'Acquired Asset' terms! Really helpful. :)

Philippines Properties for Sale

Japs Buidon said...

I'ѵe ƅeen browsing online more tҺan three hours today,
yet I never found any interesting article liҡe yours.
It is pretty worth enough fօr me. In my view, if all webb owners and bloggers madе gοod content as you did, the internet will be a lot more usefսl than еver befoгe.|
I сouldn't resist commenting. Perfectly writtеn!|

Feel free to visit our site: Condo for sale in sale In Manila Philippines

Roger Perry said...

Thanks for the awesome idea! Working on getting my house sold, and this idea has become part of the marketing: http://rogerperry.com/

Jeff Adams Scam Tips said...

Nice information Article for Real Estate Scam tips.. Thanks for your post keep it up