Bank*foreclosure -

Bank foreclosure is a legal process where a lender seizes a property after the borrower fails to make mortgage payments. The bank then sells the property to recoup the outstanding loan balance. For buyers, these properties—often called Real Estate Owned (REO)—can represent a bargain, but they typically come with unique risks and strict conditions. Key Phases of the Foreclosure Process How to buy a foreclosed home - Bank of America Foreclosures