Both UITs and shared money are portfolios of securities. They may contain bonds or stock or a combination of both. Where they differ is in active management of the portfolio. The stock portfolio in a UIT remains the same as time passes unless there is a merger or chance of default in one of the securities.
If you get a UIT, you will usually know what you own. A mutual fund can be an actively traded portfolio that may change completely during the time you own it. It is similar to presenting a professional portfolio manager actively trading your investment portfolio. Active management is not necessarily better. UITs generally contain relatively safe investments such as bonds, preferred stock, or blue chip stock and do not need much active management. Mutual funds may contain a mix of investment risks that require continuous monitoring.
You might be able to negotiate a lower price than detailed on the bank’s website. Just like a bank or investment company REO are sheriff’s sale properties. These are usually handled by the state treasurer’s office or the sheriff, and are properties with some type of judgment against them, usually the foreclosure notice before it would go to the bank or investment company REO.
While you can get some good money saving deals here, the defaulted owner may still go on the property and may make taking possession difficult. Be sure you know the legal process for eviction and be prepared for tidy up and remodeling when you …