most major mortgage loan servicers will provide you their REO lists via FAX. Most REO will be listed with their respective brokers, and you'll have the contact #, but some aren't.
You can even call FNMA and get their list. I think the number is 1800Fannie.
REO as Nancy has written means Real Estate Owned. But it is used in an enlarged sense.
You are talking about mostly, a property taken back at Foreclosure by a Lending Institution. They have a Department which handles all these properties and it is called the REO department. and those highly underpaid persons who work within those hallowed walls are usualy called Loss Mitigators, and we with great humor describe them as Walter Mittys. For that tie you will have to research old films.
The department is usualy staffed by those on their way up the ladder of a Lending Institution. It is considered a hurddle. There are so many chances to screw up your banking career, that most of the staff fight to get out before they do a really big boo boo. thats why sometime they are a little difficult to deal with. Some go on a power trip and some just try to do nothing.
I hope this gives you a little better understanding. It is something that you will probably be working with as you pursue your career in the field of Real Estate Investments. also called "Playing in the Dirt." You may find it amusing.
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most major mortgage loan servicers will provide you their REO lists via FAX. Most REO will be listed with their respective brokers, and you'll have the contact #, but some aren't.
You can even call FNMA and get their list. I think the number is 1800Fannie.
new guy here, and seemingly a silly question but......what does REO stand for?
grace2004,
REO stands for real estate owned.
Dear Grace2240
REO as Nancy has written means Real Estate Owned. But it is used in an enlarged sense.
You are talking about mostly, a property taken back at Foreclosure by a Lending Institution. They have a Department which handles all these properties and it is called the REO department. and those highly underpaid persons who work within those hallowed walls are usualy called Loss Mitigators, and we with great humor describe them as Walter Mittys. For that tie you will have to research old films.
The department is usualy staffed by those on their way up the ladder of a Lending Institution. It is considered a hurddle. There are so many chances to screw up your banking career, that most of the staff fight to get out before they do a really big boo boo. thats why sometime they are a little difficult to deal with. Some go on a power trip and some just try to do nothing.
I hope this gives you a little better understanding. It is something that you will probably be working with as you pursue your career in the field of Real Estate Investments. also called "Playing in the Dirt." You may find it amusing.
Cheers Lucius
Here is a link right off TCI:
http://www.thecreativeinvestor.com/Web_Links120.html
And a few more:
http://www.ocwen.com/residential/reofindbystate.cfm
http://www.treonet.com/nc/properties/
http://www.iasreo.com/search/home4sale.asp
http://www.greenpoint.com/index.cfm?spPathname=PFS.cfm
http://www.downeysavings.com/property/index.asp
http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp
http://www.deltahomeloans.com/index.cfm?nav=home.reo
Hope these help, but if the links dont work, or it doesnt let me post them, PM me and I'll send you the links.
Good Luck,
James
http://www.keystonebest.com/reo/
http://www.premierereo.com/consumerSvlt//nav/ConsumerNavL1.jsp/requestPage/consumer/PropertySearch.jsp
http://www.peoples.com/im/cda/multi_elements/1,6832,1355,00.html
http://www.matrixasset.com