Yes it is important to consider both options - weigh the "pros" and "cons" of each choice. Consider the extra expense involved from fuel consumption with living a bit out of town as well any extra time it would take from your schedule for traveling back and forth. Both are great options... as long as they are within the budget you are comfortable with.... more
I have sold bank owned homes for several banks for about six years now. It is common to have a home that is owned by the bank and to have people living there. The process that I would do most of the time is that the bank would offer the people living there something that is called "Cash for Keys". This is where the bank gives the person living there money to leave and not trash the place. Most people take this or they just leave because they know they will get thrown out anyways. Most of the time people will move on when they know the bank is actually doing something now.
I would start by keeping an eye on the property and paying attention to anything that is posted on the property. Usually once an agent is assigned to the property they will post their information.
They key is to gather as much information about the property as you can and keep an eye on it. If you have any further questions please do not hesitate to call me or email me. I hope this made sense.... more
You may wish to ask your question again and be specific as to the abbreviations you would like to know, so that your question may be answered accordingly--or ask your agent and or attorney the question.... more