Pitbull Mortgage School REO
REO stands for “Real Estate Owned”. These are properties that have gone through theforeclosure process and are now owned by the bank or mortgage company. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. A REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing. Do be aware that REO’s may be exempt from normal disclosure requirements.
I found the largest directory of hard money lenders , it belongs to pitbull mortgage school, this is the first directory I found that has all real information segment by states.
REO Properties and earning money with bank owned real estate are hot topics in the next pitbull mortgage school seminar.
30th of April huge event in the Hard Rock Hotel, Las Vegas, Nevada for hard money lenders organized by Pit Bull Mortgage School.
Our Office is located in 5580 la jolla blvd #153 La Jolla, California. You can reach us by phone 858-736-7788.
Our Hard Money Lenders events are held:
Las Vegas
4455 Paradise Road
Las Vegas, NV 89169, USA
Future events Will also be held in Florida.
Miami, Florida
Exact address is still in research.
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