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REO is an abbreviation for a Real Estate Owned property. REOs and FORECLOSUREs are not the same thing. However, an REO is only produced as a result of a foreclosure where the lender has repossessed the property to re-sell.
Welcome to So California’s Inland Empire; Known as “The IE,” to locals. Find local and regional news, market conditions, and homes for sale; stay informed about issues that affect the San Bernardino / Riverside county economy.
Loss Mitigation is used to describe a third party assisting in the process of negotiation between a homeowner and their lender. Loss Mitigation works to negotiate terms for the homeowner that prevents foreclosure.
A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff less than the balance due on the loan typically executed to prevent foreclosure, but may or may not involve a property in foreclosure.
Because of the massive and wide-spread use of sub-prime mortgages over the past five years, the foreclosure crisis has created an historic level of REO properties hitting the market; A trend that has contributed to …
Foreclosure has become a national epidemic and we are all experiencing challenging times. It is during these times that we must all share valuable information that can protect us from the danger of opportunist poised to take …
Declining values added to our increasing inventory all add up to a Buyer’s market. It’s a perfect time for Buyer’s to turn the excess of available REO properties into homeownership opportunities. But credit is tight …
Times are certainly tough for sellers right now. And you probably won’t sell your house for the amount you would like. The best strategy for now would be to stay put and wait out the …
To help clearly disclose the mortgage process, the federal government is giving their Good Faith Estimate document a makeover. Effective January 1, 2010, the current 2-page form will be replaced by a newly revised standard 3-page …
With foreclosures continually on the rise nationwide, prices declining, and inventories increasing to historic levels, investors with a discerning eye and knowledge of the foreclosure process can build a profitable portfolio of REOs.
Review this basic …
President-elect Barack Obama, in his first news conference last week, called on the Treasury and other government agencies to “use the substantial authority that they already have to help families avoid foreclosure and stay in …
Economic Outlook 2008
The bursting real estate bubble continues to feed thousands of foreclosed homes into the Inland Empire’s housing market. Homeowner’s are experiencing a disappearance of wealth at alarming rates as inflated home prices continue …
The declining home prices in the Inland Empire is creating one of the most vibrant markets in America for a niche product no one wants to claim: REO houses.
In September, over 3,000 foreclosed homes were …
Pinch Me …a message from Michael Moore
Wednesday, November 5th, 2008
Friends,
Who among us is not at a loss for words? Tears pour out. Tears of joy. Tears of relief. A stunning, whopping landslide of hope in …
Seven of the top sixteen metropolitan areas with the highest rates of foreclosures in the nation are in California, according to the latest data from RealtyTrac. In the Stockton, Riverside/San Bernardino, Sacramento, Bakersfield, Oakland, Fresno …
To help clearly disclose the mortgage process, the federal government is giving their Good Faith Estimate document a makeover. Effective January 1, 2010, the current 2-page form will be replaced by a newly revised standard 3-page …
Did you know . . . Fannie Mae is offering special financing when you buy one of their bank owned homes!
This special financing is available on Fannie Mae homes with this logo:
How does this …
Times are certainly tough for sellers right now. And you probably won’t sell your house for the amount you would like. The best strategy for now would be to stay put and wait out the …
Real Estate News
