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It's known as real estate owned properties (REO), and specialty financing across the United States. [1] [2] The company buys distressed residential properties wholesale and resells them online at prices under $100,000. Buyers are mostly made up of investors who renovate and resell or rent the properties. [3]
REO sale property in San Diego, California. Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
The site has over 1 million "distressed" properties in its database at any time. In 2008 they had 150 data collectors, who collected data directly from notices posted on courthouse noticeboards or from county recorder offices. [7] [8] The site charges a monthly fee for access to their listings. The company provides data to MSN Real Estate, Yahoo!
In 2009, the building (pictured above), at 1514 E. 172nd St., was designated as one of the 200 most distressed buildings in the city, reported New York's Daily News.
The city's goal is for 70% of Homes MKE rehabs to be sold to owner occupants. Miller said the city tries to keep the sale prices of the homes, including larger houses such as duplexes, between ...
Using philanthropic and public sources to leverage private capital for neighborhood stabilization activities, the REO Capital Fund was created to help municipalities and community-based organizations finance the acquisition, rehabilitation and interim holding of distressed properties to maximize their on-the-ground impact in neighborhoods hard ...
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