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When a home owner misses payments on his or her mortgage, the loan becomes default and the home or property becomes distressed. What happens next depends on an appraisal and the equity of the home. If short sale isn’t a viable option for the home owner and the lender, the foreclosure process takes over and the home or property goes up for foreclosure auction.

A bank-owned property (also referred to as a "real estate owned" or "REO" property) is one that was up for sale at a foreclosure auction but did not sell and therefore now belongs to the lender (usually a bank, but can also be any government agency or loan insurer.)

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The Lustnauer Team
RE/MAX Premier Choice
1600 Fishinger Road
Columbus, OH. 43221
Direct: 614-410-1816
Toll Free: 800-536-4424
Fax: 614-474-8108
Cell: 614-209-2337
Email: Milt@MiltSellsHomes.com

Milt carefully listens to his client's desires and applies his 30+ years of real estate experience, using the "Latest in Technology", until his clients goals are met. Milt continually researches the latest marketing tools and has advanced designations as indicated by the logos below. Milt is a member of the prestigious Columbus Board Of Realtors $25 Million Dollar Club; he has a marketing team of four professionals and continues to be one of the top real estate agents in Columbus, Ohio. Milt's prominent goal for his customers is for them to walk away with a smile on their faces and security in their real estate choices. Call America's NUMBER1EXPERT™ Milt Lustnauer For The Professional Service You Deserve!