real estate

What is a distressed property?

 

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.

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