Even as the real estate market continues to bounce back and excel, there are far too many bank-owned properties on the rosters of lenders and agencies all over the nation. These companies never wanted to be property owners, but were forced to foreclose on mortgages or...
Preserving an REO property is essential to making sure that the property doesn’t turn into a fatal drain on your finances. Since no bank wants to end up owning and selling properties, it’s important to get that property off your rolls as soon as you can. The problem...
When you’re saddled with a bank-owned or REO property, it can quickly turn into a nightmare. You never wanted to own the home to begin with—you loaned money to a borrower in good faith that they’d pay it, and they failed to live up to their end of the bargain. This...
It’s a basic fact that almost no bank or lender wants to take possession of a property. They’re in the business of helping people buy properties, not owning them. When a bank has to foreclose on a mortgage or otherwise take possession of a home, they’re stuck with the...
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