What are some of the "recognized" causes of DISTRESS?
1. Increase in mortgage payment
2. Loss of job or business
3. Damage to the property
4. Death of a spouse or wage earner
5. To much debt
6. Severe illness
7. Inheritance
8. Divorce
9. Relocation
10. Military Service
11. Insurance or Tax increase
12. Incarceration
Wednesday, February 3, 2010
Tuesday, February 2, 2010
Distressed Property Defined
What is a "distressed" property?
The definition of a distressed property is:
1. Property that is in poor physical condition
2. Property that is or will soon be in some stage of the foreclosure process
3. Property that has an owner who is experiencing a period of financial instability
4. Property on which the mortgage obligation exceeds its current value, causing it's owner to sell.
The definition of a distressed property is:
1. Property that is in poor physical condition
2. Property that is or will soon be in some stage of the foreclosure process
3. Property that has an owner who is experiencing a period of financial instability
4. Property on which the mortgage obligation exceeds its current value, causing it's owner to sell.
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