Real Estate Owned |
3 Months Ended | |||
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Mar. 31, 2017 | ||||
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| Real Estate Owned [Text Block] |
Property purchased for rental or acquired through foreclosure are included on the balance sheet as real estate owned. As of March 31,2017, real estate owned totaled $1,177,291, with no valuation allowance. As of March 31, 2017, real estate owned included $971,579 of real estate held for rental and $205,712 of real estate held for sale. |
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- References No definition available.
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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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