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8 Tag Results

8 result(s) displayed (1 - 8):

November 02, 2010

REO

REO is an acronym for real estate owned and refers to foreclosure properties owned by banks. REO homes have become a popular choice for first time home buyers, individuals seeking a second home, and real estate investors.

REO properties are sold through banks. Once mortgage lenders repossess real estate due to mortgage default or deed in lieu of foreclosure, properties are placed for sale through public auctions. If properties do not sell at auction they are returned to the lender.

Real Estate Investing article on "REO"

July 30, 2010

Foreclosure Process

The foreclosure process will vary depending on the state of residence and servicing mortgage lender. However, the process begins when banks send borrowers a breach of contract or payment collection notice. This is referred to as the preforeclosure phase. If mortgagors can cure mortgage arrears and make future mortgage payments, the process could end at this stage.

The foreclosure process continues when borrowers ignore collection letters or are unable to enter into foreclosure prevention strategies offered by the bank. Once borrowers receive a notice of default it is in their best interest to immediately contact their lender. Ignoring the situation only escalates the process.

Real Estate Investing article on "Foreclosure Process"

March 26, 2010

Countrywide Foreclosure List

The Countrywide foreclosure list is an indispensable tool for real estate investors. On any given day, investors can locate over 15,000 foreclosures, bank owned, and cheap homes for sale located across the nation. Most properties are priced well below market value and sold in "as is" condition.

Countrywide foreclosure list properties are part of HUDs Neighborhood Stabilization Program. NSP allows qualified borrowers to obtain grant money to purchase bank owned homes in an effort to stabilize communities hit hard by foreclosure. Recipients of NSP funds have access to properties under Bank of America's "First Look" Purchase Program.

Real Estate Investing article on "Countrywide Foreclosure List"

September 28, 2009

Foreclosure Home

When it comes to buying a foreclosure home it is important to understand the pros and cons of this type of real estate transaction. While you might be lucky enough to find a foreclosed house in perfect condition, chances are high you will need to engage in physical labor to get the property back in good condition.

Before beginning your quest for the perfect foreclosure home, it is a good idea to apply for pre-qualified home mortgage financing. Doing so ensures you are qualified to buy the property and provides extra bargaining leverage when it comes time to make an offer.

Real Estate Investing article on "Foreclosure Home"

May 26, 2009

Real Esates

'Real esates' is a common misspelling for 'real estate'. Both spellings refer to real property or raw land used for housing, commercial buildings, farming or ranching. In reality, Earth is one gigantic ball of real estate opportunities!

Today, people are leery of investing in real esates. It's no wonder. With housing prices dropping at unprecedented rates, sellers are reluctant to sell their properties because most of them would take a financial loss.

Real Estate Investing article on "Real Esates"

February 15, 2009

Bank Owned Properties

Bank owned properties refer to real estate which has been returned to the lender. Also referred to as real estate owned or REO, bank owned properties can consist of land, single dwelling homes, condominiums, apartment buildings, manufactured homes and commercial real estate.

Bank owned properties can be sold directly through the lender or a licensed realtor. Most REO property is priced under market value. In some cases, buyers can purchase bank owned real estate at savings of up to 40-percent. However, the average savings hovers between 10- and 15-percent

Real Estate Investing article on "Bank Owned Properties"

March 03, 2008

Types of Homes for Sale

When looking at homes for sale, there are many options to consider. Are you looking for single family residence home or multi-family real estate such as a duplex or apartment building? Are you looking for a fixer-upper home or a brand new home that requires no additional work?

Many homes for sale are being offered as FSBO (For Sale by Owner), which may or may not be the best choice for you. Others are offered as REO (real estate owned) foreclosure homes, while other homes for sale are offered directly through a real estate agent.

Real Estate Investing article on "Types of Homes for Sale"

February 27, 2008

Does REO really mean Real Estate Owned? Bank realestate owned properties are hot prospects.

REO is the latest buzz word in today's real estate industry. REO stands for Real Estate Owned; meaning the property is owned by the bank. Before property reverts to the bank, an attempt must be made to sell it through a real estate foreclosure auction. This is an important fact to keep in mind.

Many people think REO properties are dirt cheap, but this is rarely the case. Realize that foreclosure homes have no equity and an inflated mortgage. In other words, more money is owed on the note than the house is worth. This is the main reason they don't sell at auction.

Real Estate Investing article on "Does REO really mean Real Estate Owned? Bank realestate owned properties are hot prospects."