REO

Rick Felix paid $200,000 for a four-bedroom, split-level foreclosed house in Ambler. He made the payment in cash without any option to inspect or even get a good look inside the place beforehand.

If Fannie Mae's clear-boarding requirements prove effective, New York may follow Ohio's lead and move forward with a bill requiring it to be used more broadly on zombie properties.

Zombie properties become the living dead as a result of bank foreclosures. They sit and often fall into disrepair — a situation likely to go from bad to worse.

Quaint Oak Bank has acquired Premier Choice Real Estate, which specializes in selling bank-owned properties.

A new state law meant to combat the blight of "zombie" homes across New York lacks effective enforcement to hold banks accountable for actually maintaining the properties on Staten Island.

Mortgage holders could see their security interest wiped out if a borrower in Texas or Nevada gets a property tax loan where the lien has priority over the first mortgage.

The winning bids at Saturday's annual Niagara County tax foreclosure auction totaled more than $1 million.

Tupelo, Miss., Mayor Jason Shelton is outlining his administration's goals and methods as it ramps up a fresh focus on blight removal across the city's residential areas.

Home shoppers may soon have a chance to snag an Upper Arlington, Ohio, mansion for about half its value.

Getting rundown or blighted properties renovated to meet safety codes and restored to the tax rolls is the goal of a program known as receivership, a report about which was presented to the Holyoke, Mass., City Council.