Re: Foreclosures - Posted by Rich[FL/GA]
Posted by Rich[FL/GA] on May 23, 1999 at 18:59:54:
Hi Sue. Yes, the contact person is a bank REO official since these are true foreclosed properties, not those going thru foreclosure.
The way I understand it, there are two ways to profit from the foreclosure process: 1) pre-foreclosure, deal with current owners, and 2) post-foreclosure, deal with the new owners (the banks.) This site gives you information on ALL bank owned REOs. Yes, some will be government owned (HUD, VA, etc) but not all are owned by the government. Many are from the bank portfolios too that you probably can’t get from the free goverment web sites. That’s why I’m wondering about the utility of having all this information available in one place. According to the site:
You Will Have Access To All Of The Foreclosures In Your Area, Which Will Include The Following:
Residential, Commercial and Land Listings.
Government Agencies: FDIC, VA, HUD, Fannie Mae, Freddie Mae, Farm Credit.
Description of the property.
The bank asking price.
The name and telephone number of the bank officer or agent (to inspect the property).
Every listing is dated (according to the time the bank listed each property).
If I have time at work tomorrow, I may give these guys a call to see what their story is, especially as concerns how they view getting ahold of the gov owned (VA, FHA, HUD, etc) homes. Another good question is how they get their information.
Thanks for replying.