Posted by Jimbob on April 16, 1999 at 11:27:09:
This is nothing new, if you were the bank wouldn’t you do it?
It depends on many factors, such as location, market demand, outstanding balance owed, rehab costs, sales costs, and profit margin. If the profit margin is high enough, the banks and other government agencies will rehab the house and make a good profit.
There are still plenty of REO’s where the agency foreclosing will not rehab them, they would rather unload it, the profit margins may not be high enough or the market demand in a given are may not be as strong as others.