Foreclosed Homes For sale in Omaha, Nebraska

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Nebraska (listen) is a state that lies both in the Great Plains and in the Midwestern United States. It is bordered by South Dakota to the north; Iowa to the east and Missouri to the southeast, both across the Missouri River; Kansas to the south; Colorado to the southwest; and Wyoming to the west. It is the only triply landlocked U.S. state. Nebraska's area is just over 77,220 square miles (200,000 km2) with a population of almost 1.9 million. Its capital is Lincoln, and its largest city is Omaha, which is on the Missouri River. Indigenous peoples, including Omaha, Missouria, Ponca, Pawnee, Otoe, and various branches of the Lakota (Sioux) tribes, lived in the region for thousands of years before European exploration. The state is crossed by many historic trails, including that of the Lewis and Clark Expedition. Nebraska is composed of two major land regions: the Dissected Till Plains and the Great Plains. The Dissected Till Plains region consist of gently rolling hills and contains the state's largest cities, Omaha and Lincoln. The Great Plains region, occupying most of western Nebraska, is characterized by treeless prairie, suitable for cattle-grazing. Nebraska has two major climatic zones. The eastern half of the state has a humid continental climate (Köppen climate classification Dfa); a unique warmer subtype considered "warm-temperate" exists near the southern plains like in Kansas and Oklahoma which have a predominantly humid subtropical climate. The western half of the state has a primarily semi-arid climate (Koppen BSk). The state has wide variations between winter and summer temperatures, variations that decrease moving south within the state. Violent thunderstorms and tornadoes occur primarily during spring and summer and sometimes in autumn. Chinook wind tends to warm the state significantly in the winter and early spring.

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Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower, who has stopped making payments to the lender, by forcing the sale of the asset used as the collateral for the loan.[1] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).[2] Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can successfully repossess the property.[3] Therefore, through the process of foreclosure, the lender seeks to foreclose (in plain English, immediately terminate) the equitable right of redemption and take both legal and equitable title to the property in fee simple.[4] Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills or overdue homeowners' association dues or assessments.

Source: https://en.wikipedia.org/