| State of Arkansas Bank owned homes
and Properties offer a great opportunity to buy a bank owned home directly
from the lender. These are private real estate sales between the bank and
you, so there may be additional flexibility in both price and financing
terms.
Often, these bank owned real estate
and property sales are due to a foreclosure action. As banks and mortgage
lenders have loosened the strings and allowed the more exotic mortgage
loans such as no money down, interest only, adjustable rates, and low qualifying
standards, many buyers found themselves unable to pay their mortgages,
the lenders foreclosed, and the properties are now bank real estate owned,
REO.
Information about Arkansas: Arkansas
reached a high point in population growth during the 70s, adding 19 percent,
or 363,000 people, to reach a 1990 census population of 2.5 million.
Arkansas population centers: Little
Rock-North Little Rock (approximately 350,000), Conway Ft. Smith, Pine
Bluff, and Jonesboro. The towns of Fayetteville, Springdale, Rogers, and
Bentonville form an almost unbroken complex of development in the northwest
corner of the state. In the 2000 census, Arkansas ranked 33rd in size with
2.67 million residents.
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