An REO has no mortgage so there is nothing to short. REOs are banked owned property and they own it outright. They need to sell the house to get the money back into investments. You can offer whatever you would like to purchase the house for. Having a package (similar to a ss package) is a good idea to support the offer you are making.
Comments(0)
An REO has no mortgage so there is nothing to short. REOs are banked owned property and they own it outright. They need to sell the house to get the money back into investments. You can offer whatever you would like to purchase the house for. Having a package (similar to a ss package) is a good idea to support the offer you are making.