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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 01-17-2009, 04:21 PM
 
2,834 posts, read 10,766,703 times
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Karen...when John says "Owned by the bank"...he is probably referring to the fact that there are mortgages on the properties. Technically....my house is 'owned' by the bank I guess too.

Oh...and it's good that you have those references to look up...the next time someone gets on this board and insists The Hideout is filled with foreclosures...you can set them straight!
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Old 01-17-2009, 04:31 PM
 
Location: Pike County, PA
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Well that would be almost every home in America. LOL. In realtor lingo, "owned by the bank" is literally owned by the bank. LOL
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Old 01-17-2009, 06:03 PM
 
Location: Collegeville PA & Towamensing Trails
513 posts, read 1,080,188 times
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Quote:
Originally Posted by karenrice View Post
well that would be almost every home in america. Lol. In realtor lingo, "owned by the bank" is literally owned by the bank. lol

We all should know thta the bank doesn't own a home with a mortgage on it, the deed is in the mortgagee's name, they just have a sizeable lien on it. Once foreclosed, the bank owns it, and typically would like not to. REO...
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Old 07-23-2010, 05:58 AM
 
1 posts, read 1,182 times
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Originally Posted by RestonRunner86 View Post
Can anyone tell me why there are currently at least 15 homes for sale right now in Glenmaura? Did some people get in over their heads? Is there some sort of development project underway that I'm not aware of that is causing people to wish to flee? It just seems like an oddly-high number of homes are for sale for one subdivision.
It's not a very friendly place to live -way too many people with too much time on their hands- especially in the commons.
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