What is a distressed property?
The Bankrate.com financial term of the day is: "Distressed Property."
You've heard of a damsel in distress? How about a domicile in distress? A distressed property is a home or other property that's in poor condition, often because the owner is in poor financial shape.
Distressed property is a term typically used to describe a foreclosure that has fallen into ruin, needs a lot of work and will be priced low to sell quickly.
To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
Cadillac helps explain what Ari Gold did in his short-lived retirement in a new short film produced in conjunction with "Entourage" creator Doug Ellin.
... Read more