Question by Robert J: What does it mean when a mortgage company buys a home in a sheriff real estate sale?
I was reviewing the local sheriff real estate sale results and noticed that several houses were bought by mortgage companies. Don’t they want to get rid of these houses? Why are they buying them?
Answer by Beverly S
When a house is foreclosed on and the bids are not high enough the mortgage company will buy it back so they can list it themselves. This is very common.
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