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Posts: 19
Registered: ‎08-04-2012

What does foreclosed means ?

[ Edited ]

I saw the status of my neighbor in the internet:

"Oct 08 2012 - Foreclosed - The lender, BANK OF AMERICA, foreclosed on the property. It may listed for sale by the lender in the future"

But the husband said "No, they are on negotiation process" He thinks bank has a mistake.

And the wife said :"The loan modification almost finish"

But they are selling manything such as: garage door opener, air conditioning, sheds, .... even water heater.

If you know please let me know real story of my neighbor house. Who is real owner of that house ? If Bank Of America is owner like status in the internet, why they still live in that house now ?

Thank you so much.


Gold Super Contributor
Posts: 3,138
Registered: ‎06-01-2012

Re: What does foreclosed means ?

BofA may have allowed them to stay there so it is not empty and doesn't get vandalized but it looks as though they are doing a pretty good job of vandalizing it themselves.