BANK-OWNED PROPERTIES AND REO (FAQS)What Is An REO?REO is an acronym for Real Estate Owned and is industry jargon for foreclosure property repossessed by banks or lenders. If a lender or bank is the highest bidder at a foreclosure auction — or if no third party bids at the auction — the propert. . .
|The Banks Take Less Money|
Ever Wondered… Why did the bank take less money for an REO Property than they rejected for Short Sale? I’m sure that you have seen it happen before, maybe to a friend, family member or even to you. A property is for sale as a Short Sale. The property goes under contract and sits for several. . .
1. Loss mitigation: Regulation X sets forth requirements for soliciting, completing, and evaluating loss mitigation applications. As part of these requirements, servicers must notify borrowers in writing within five days after receiving a loss mitigation application acknowledging that it recei. . .
Welcome to "What Happening" What's Happening is a snapshot of events and information that affect the Florida Real Estate Community. This information is relevant for investors, home buyers, sellers, real estate agents, mortgage brokers, and anyone else who is involved with real estate on a full. . .
|Get Loan Mod Approval|
Getting a mortgage loan modification might seem like a quest only a mythic hero could achieve. After all, the ranks of those who've lost homes in foreclosure dwarf the number of homeowners who've received mortgage help to get a loan modification approval.. Meet Linda Lakeside, mythic hero. L. . .
Quiet titles are legal mechanisms that make it possible to grant a clear title to a single owner when there is the potential for several different claims to ownership. The name of the action refers to the result of this action, in that by establishing a clear owner to the real property, it is p. . .