Bank files to foreclose 5 Rochester properties owned by Bob Morgan

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Bank files to foreclose 5 Rochester properties owned by Bob morgan judge denies sec’s attempt to freeze Bob Morgan’s assets Credit union moves to foreclose on Henrietta property owned by developer.

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Real Estate Owned or "REO", is a banking term used to describe a property that was acquired by a bank, lender or servicer as a result of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure process is completed, the title has been transferred and the property is ready to be marketed, it will be.

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More: Andreatta: What Bob Morgan knew and when. Kevin is Robert Morgan’s nephew and Todd is Robert’s son. Robert Morgan and his Morgan Communities company are central to many major public projects in the Rochester area. Kevin Morgan is vice president of Morgan Communities, while Todd Morgan is a project manager.

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