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St Louis City, South County and Affton Information:

  • About St Louis City, South County and Affton - Moving to St Louis City, South County and Affton, Missouri? Get info here...

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Real Estate Tips
Foreclosures >2. What Is a Bank Owned Property?

When a home owner misses payments on his or her mortgage, the loan becomes default and the home or property becomes distressed. What happens next depends on an appraisal and the equity of the home. If short sale isn’t a viable option for the home owner and the lender, the foreclosure process takes over and the home or property goes up for foreclosure auction.

A bank-owned property (also referred to as a "real estate owned" or "REO" property) is one that was up for sale at a foreclosure auction but did not sell and therefore now belongs to the lender (usually a bank, but can also be any government agency or loan insurer.)

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Real Estate Trivia
Q 
What recent hit movie features a field trip scene that supposedly takes place at Columbia University in New York?

A 
The scene in the movie "Spider-Man", where Peter Parker shoots photos of Mary Jane and is bitten by the spider, was actually filmed in the Museum of Natural History in Los Angeles, California.
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Jim and Kate Potterfied, REALTOR®, real estate agents and broker for St Louis City, South County and Affton, Missouri home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim and Kate Potterfield
RE/MAX Results

4700 Hampton Ave
St. Louis, MO 63109
Phone: 314-504-3212
Fax: 314-352-7655
Office: 314-352-7770
Email: jimpotterfield@NUMBER1EXPERT.com
Email: jpotterfield@hotmail.com

Hi! We're Jim & Kate Potterfield and we are eager to help you achieve your Real Estate goals. We want you to be happy with our service, We have 3000+ happy customers-we want you to be one too! Our office manager, Tammy Sessler will ensure that your transaction is handled to your satisfaction. Our motto is" Experience... the difference!

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