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What is a reo property?
REO (Real Estate Owned) is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property, it is listed on their books as REO, and is categorized as an asset (non-performing).
What is the difference between a foreclosed property and a bank-owned property?
The two terms are used loosely by many people so they can have an overlap in their meaning. Foreclosure is a process. When someone says a property has been foreclosed upon they are mostly talking in the past tense. A foreclosure that runs its full course will end with an auction. If the foreclosure stops prior it is normally because the default has been settled through some other means. Normally a default that has been cured is from the loan being settled (in full or for an agreed short sale amount). When a foreclosure happens the final step is an auction where the lender enters the opening bid. If there is another bidder that offers more they win the auction and become the owner. In that case the property was foreclosed upon and the owner is the party that won the auction. For most practical purposes there is nothing special in that the property has a new owner and there is nothing odd to be concerned about. When the auction fails to identify a bidder who will pay more than the lender's opening bid the lender becomes the owner. Assuming a bank and not a private lender, the property is classified as Other Real Estate Owned (OREO). Most people shorten the term to REO. Regulated banks in the US are required by law to dispose of property that is OREO. It is surplus to requirements and banks cannot hold RE for investment purposes.
What is the lowest minimum balance required to open an account with RBS?
None. You may have a balance of £0.00 when opening or transferring accounts with RBS (Royal Bank of Scotland).
What is The Minimum Opening Deposit For Business Accounts?
You are able to open the majority of business accounts having a minimum opening deposit of just about $50.
What are the benefits of CitiGold Interest Checking?
One of the benefits of CitiGold Interest Checking is that there is no minimum opening balance required. There is also no minimum fee to maintain to avoid a finance charge. One will also draw a .1% interest on the balance of their account.
What is a reo property?
REO (Real Estate Owned) is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property, it is listed on their books as REO, and is categorized as an asset (non-performing).
What are the minimum qualifications required to start Truck driving School?
Minimum requirement is to get the permit and the licence for opening the truck driving school .. its depends state by state might be defferent
What is the difference between a foreclosed property and a bank-owned property?
The two terms are used loosely by many people so they can have an overlap in their meaning. Foreclosure is a process. When someone says a property has been foreclosed upon they are mostly talking in the past tense. A foreclosure that runs its full course will end with an auction. If the foreclosure stops prior it is normally because the default has been settled through some other means. Normally a default that has been cured is from the loan being settled (in full or for an agreed short sale amount). When a foreclosure happens the final step is an auction where the lender enters the opening bid. If there is another bidder that offers more they win the auction and become the owner. In that case the property was foreclosed upon and the owner is the party that won the auction. For most practical purposes there is nothing special in that the property has a new owner and there is nothing odd to be concerned about. When the auction fails to identify a bidder who will pay more than the lender's opening bid the lender becomes the owner. Assuming a bank and not a private lender, the property is classified as Other Real Estate Owned (OREO). Most people shorten the term to REO. Regulated banks in the US are required by law to dispose of property that is OREO. It is surplus to requirements and banks cannot hold RE for investment purposes.
How much land require in opening new polytechnic college?
Minimum 5 acres are required other than metro or capital city
What is the lowest minimum balance required to open an account with RBS?
None. You may have a balance of £0.00 when opening or transferring accounts with RBS (Royal Bank of Scotland).
What is The Minimum Opening Deposit For Business Accounts?
You are able to open the majority of business accounts having a minimum opening deposit of just about $50.
What is the minimum distance required by code that a vent needs to be away from an air intake?
10 feet away unless it terminates 2 feet above the top of such an opening
What is the minimum height opening for a carport?
80"
Can a 2nd floor bedroom egress window open onto a exterior porch roof?
Yes. As long as it meets the required distance from the floor and the minimum square footage opening. Example - where I am the opening must be 5.7 square feet or larger.
What are the benefits of CitiGold Interest Checking?
One of the benefits of CitiGold Interest Checking is that there is no minimum opening balance required. There is also no minimum fee to maintain to avoid a finance charge. One will also draw a .1% interest on the balance of their account.
The maximum or minimum of a parabola depending on whether the parabola opens up or down?
A parabola opening up has a minimum, while a parabola opening down has a maximum.
How to calculate the size of an egress window?
To calculate the size of an egress window, you need to follow these steps: Determine the minimum required size for an egress window in your area. This is typically based on building codes and regulations. Measure the width and height of the window opening in inches. Multiply the width by the height to calculate the total square inches of the window opening. Ensure that the total square inches of the window opening meets or exceeds the minimum required size for an egress window in your area. By following these steps, you can accurately calculate the size of an egress window.
