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Looking for a Country Home? I am your Country Home Specialist. Call me today so I can help you find your Country Home 503-539-5878.

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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 
What classic 1932 movie scene was filmed between 923 and 935 Vendome Street in the Silver Lake district of Los Angeles?

A 
Laurel and Hardy tried to lug a heavy piano up a really long outdoor stairway in "The Music Box."
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Dorothy Sahlfeld, REALTOR®, real estate agent and broker for Hillsboro, Sherwood and Wilsonville, Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)

Dorothy Sahlfeld
Oregon First

240 NW 334TH Avenue
Hillsboro, Oregon 97124
Phone: 503-539-5878
Fax: 503-648-8516
Cell: 503-539-5878
Email: INFO@NORTHWESTCOUNTRYHOMES.COM

Specializing in Country Homes in Washington County, Yamhill County and Clackamas County Oregon. Personally and professionally involved with horses and rural properties for over 20 years, I have an in depth understanding of what you need for your country home needs.

ABR Equal Housing GRI MLS REALTOR


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