REO Management News
Bulk REO Trading – The Next Big Thing?
REO stands for real esta [...]
Keywords: foreclosures, reo, real estate owned, bank forecloses, foreclosure sale, bank owned home, real estate investors
US prices to be dragged down?
Residential property prices across 25 m [...]
Keywords: real estate, housing market, homebuyers, foreclosure, REO inventory, housing demand, real estate owned, mortgages
Real Estate Owned Inventory to Peak in Summer 2011: BarCap
In April, REO remained relatively flat, [...]
Keywords: REO inventory, lenders, foreclosure, foreclosed homes, foreclosure stock, REO
California REO Management, specializes in providing quality nationwide REO management services. We provide complete oversight of the entire management and disposition process. We have the skills, professional personnel and systems to handle each phase of the REO process.
What Is An REO?
An REO or Real Estate Owned property is a home that’s been through the foreclosure process and is now held by the lending institution. When borrowers default on their monthly mortgage payments, lenders will start foreclosure proceedings beginning with the notice of default, through the pre-foreclosure stage and into the final foreclosure step of the bank taking possession of the home, or REO.
REO homes are often sold by banks at below market values in order to sell quickly. REO homes are expensive for banks to hold because they require maintenance and the bank may have to repay any liens against the property.
REO homes can be a great option for anyone looking to buy a home because of the potential for savings. Being an REO, potential buyers have the ability to see the property and may be able to negotiate the closing costs if financing the purchase through the selling bank. In any case, home buyers should conduct a thorough Neighborhood Search and research local Home Values before making a purchase.