Lowell MA Foreclosures, Short Sales and Bank Owned Homes for Sale
By Lynda Longmire
(Virtual Homes Real Estate)
Lowell, MA Foreclosures, Short Sales and Bank Owned Real Estate for Sale Purchasing a home at a Lowell MA foreclosures auction has many risks to a potential buyer and in most cases the bank will bid and take possession of the property at auction. The property is then referred to as bank owned, REO (real estate owned) or foreclosed property. To search the MA MLS listings visit Lowell MA MLS listings. A home owner may attempt a "short sale" whereby the bank agrees to accept less than the mortgage balance based on the owner's hardship and financial status. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price. Bank-owned and short sale listings are often marketed with a real estate agent...
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