Flipping REO Properties

What home-buyers, foreclosure investors, and real estate agents need to know about foreclosure listings. The foreclosure process may proceed in one of three ways depending on your state: judicial sale, which requires that the process go through court; power of sale, which can be carried out entirely by the lender; or strict foreclosure, which is only available in a few states and requires the lender or a servicer acting on the lender’s behalf to file a lawsuit against the borrower.foreclosure

Held, in an accounting had between the payee and the maker subsequently to the judgment, the payee was authorized to retain the attorney’s fees and costs which it had recovered, in addition to the principal and interest, and the expenses of the sale of the property, and where the payee, after retaining these items, paid over to the maker the balance of the proceeds of the sale, the maker could …