5655 Normandy PL Memphis, TN 38120 (Foreclosure) $215k

Walnut Grove & Yates, Past Sales Price@ $317K, 3Bed/3Bath (Just listed) http://mapq.st/i0ppfx DIRECTIONS http://stopforeclosurememphis.com/
Email Offers: [email protected]
Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments and the lender files a public default notice. The foreclosure process can end one of four ways:1.The borrower/owner pays off the default amount to reinstate the loan during a grace period known as pre-foreclosure. 2.The borrower/owner sells the property to a third party during pre-foreclosure, allowing the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.
3.A third party buys the property at a public auction at the end of the pre-foreclosure period.
4.The lender takes ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction.Foreclosure Buying Opportunities
The foreclosure process offers three bargain-buying opportunities, represented by six different property statuses
1.Buying during pre-foreclosure (NOD, LIS)
2.Buying at public auction (NTS, NFS)
3.Buying bank-owned properties (REO, GOV)
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