"Jack" Patton

Distressed Property Defined

The definition of a distressed property is:

1. A Property that is in poor physical condition.
2. A Property that is or will soon be in some stage of the foreclosure process.
3. A Property owned by a person or persons who are experiencing a period of financial instability.
4. A Property on which the mortgages total an amount higher than the current value and the owner must sell.