Managing a property yourself can be tough. You have to keep it maintained and keep your tenants happy, if you have any. Problems pile up quickly, as there’s always something going wrong with a property. Like cars, properties always have something that needs fixing....
When you own a home, you’re personally invested in keeping that property in the best shape. Not only does it lead to a more pleasant lifestyle for you, but it increases the property’s value should you decide to sell. Without that personal investment though, it can be...
It’s easy to neglect an REO property. You’re not living there, so keeping it in shape doesn’t offer any immediate benefit, but it is essential nevertheless. REO or real estate owned properties are typically the result of foreclosures meaning the previous owners likely...
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...
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