Reply by Charles_Ca on 8/30/06 2:46pm
Msg #142229
Typically REO stands for Real Estate Owned and refers to properties that have been acquired by a lender through either the process of foreclosure or by the borrower quit-claiming the property back to the lender. There may be additional documentation that needs to be signed and notarized than one would find in a regular purchase. The documents could be anything from declarations of trustees to court records and even quiet title actions. I don't specialize in REO's but I do have colleagues who do: REO's are also a common investment strategy and this would be the time to start investing before the hordes find out about them. There are any people who specialize giving seminars on how to profit in REOs. There a re also services like Redlocs who provide detailed information for REOs and potential REOs. I don't work with REOs but I have colleagues who do if you want any additional detailed information let me know and I can try and get it for you..
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