APACHE JUNCTION ARIZONA BANK OWNED AND SHORT SALE HOMES FOR SALE IN 55+ COMMUNITIES
The city of Apache Junction Arizona area is a wonderful place to retire. This page is dedicated to Apache Junction Arizona homes for sale in 55+ communities. If you are looking for Apache Junction homes for sale in 55+ communities, look no further.
While you are on my site you can find information about hospitals and businesses in the Apache Junction area. You can also find Apache Junction area bank owned and short sale houses.
If you have any questions regarding the current Apache Junction Arizona Real Estate Market or any questions about an individual Apache Junction area home, then please call, email or submit a request for information and I will get right back to you. I would love to assist you in your search for Apache Junction real estate. Enjoy yourself! This is the start of a wonderful adventure.
A bank–owned or real estate owned (REO) property is one that has reverted to the mortgage lender after the home fails to sell in a foreclosure auction. Once the bank owns the property, it will handle eviction (if necessary), pay off tax liens and may do some repairs. Then it is put on the market to sell. At this time (10/30/19) there are not a lot of bank owned properties. This can change.
A short sale in real estate is when a financially distressed homeowner sells their property for less than the amount due on the mortgage. The buyer of the property is a third party (not the bank), and all proceeds from the sale go to the lender. The lender either forgives the difference or gets a deficiency judgment against the borrower requiring them to pay the lender all or part of the difference between the sale price and the original value of the mortgage. In some states, this difference must legally be forgiven in a short sale. The lender must approve the short sale. At this time (1/8/2021) there are not many short sales. This can change.
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