It’s bad enough when a bank, credit union, mortgage company or other lender gets saddled with a property they never wanted. These foreclosure and abandoned properties, known as REO properties, can be a serious drain on your finances as a business. The problem gets...
Properties need ongoing upkeep and maintenance, an unfortunate (and sometimes expensive) fact of life. Unfortunately, it’s already bad enough when a bank ends up with a property they are forced to foreclose or which the previous owner simply abandoned. These REO...
No lender wants to end up owning a property. After all, you’re not in the business of managing people and repairs. You’re in the business of helping people buy. When you get left with a foreclosure or abandoned property, you often wonder what the next step is. You...
So you’re a lender — bank, credit union or mortgage company — who has just been saddled with a foreclosure, abandoned or other property, and now you don’t know what to do. Of course, you don’t want to keep it. You’re in the business of lending money so people can buy...
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