Mansions are usually owned by those who have multi millions and billions. Some of the most famous and luxurious mansions are worth at least a billion dollars. The average person could never dream of owning a house of that worth. This infographic shows some of the most expensive, famous mansions and give facts as well as prices.
REO properties are properties that are owned by the bank and that were formally owned by a homeowner. They were unable to make their mortgage payments on time and than the bank takes them in. The bank will then sell them at a foreclosure auction for a reduced price.
High ceilings look more attractive than low ceilings because they make a room look bigger and more airy. A house with higher ceilings is more likely to sell than one with low ceilings. However, there are ways to make your room look bigger than it actually is.
The Justice Department is suing Bank of America over misrepresenting their mortgage loans to customers, not checking them thoroughly for flaws and selling bad quality loans to borrowers. The people who spoke up about it were five investors who collectively lost $100 million due to Bank of America’s bad lending practices.
