Gatlinburg, Pigeon Forge and Sevierville real estate and homes for sale in Tennessee - Delores A. White - REALTOR®

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Real Estate Tips

Foreclosures >2. What Is a Bank Owned Property?

When a home owner misses payments on his or her mortgage, the loan becomes default and the home or property becomes distressed. What happens next depends on an appraisal and the equity of the home. If short sale isn’t a viable option for the home owner and the lender, the foreclosure process takes over and the home or property goes up for foreclosure auction.

A bank-owned property (also referred to as a "real estate owned" or "REO" property) is one that was up for sale at a foreclosure auction but did not sell and therefore now belongs to the lender (usually a bank, but can also be any government agency or loan insurer.)

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Real Estate Trivia

Q	Which hazardous substance is contained in sixty-four million houses and apartments?
A	HUD estimates that 64 million homes and apartments built before 1978 contain lead-based paint.
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Delores A. White, REALTOR®, real estate agent and broker for Gatlinburg, Pigeon Forge and Sevierville, Tennessee home listings, property and land for sale - NUMBER1EXPERT

Delores A. White
Thompson Carr Real Estate LLC
1148 Wagner Dr. Suite 101
Sevierville, TN 37682
Delores Mobile Office: 865-850-4264
Fax: 865-774-5358
Office: 865-774-5338
Lisa's Mobile: 865-654-8280
deloreswhite@NUMBER1EXPERT.com
deloresawhite@cs.com
lisarhatcher@gmail.com
When choosing The Delores A. White Team as your Realtor, you will be getting agents with over 20 years combined experience, recognized with honors, a Certified Resort Property Specialist, a Certified Accredited Buyers Agent, A Certified Short Sale And Foreclosure Specialist and a Top Producer in the entire Mid-South Region.

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