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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.

Real Estate for Sellers, Buyers and Homeowners by Ann Marie Gargano-Parks's Fan Box