REO regulations

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Forums » REOs » REO regulations

REO regulations

7 posts by 4 users

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Norm Swansen

Real Estate Investor · Jenkintown, PA

4 posts
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50 influence

Jun 13 '08, 07:13 PM

Hi everyone! New on the block. Have enjoyed all of your info.
Are there regulations that dictate how long a bank can hold a property or how many it can have at any given time?

Edited: 06/26/2010 at 05:20AM

Kyle Gregory

Real Estate Investor · liberty township, OH

150 posts
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Jun 13 '08, 09:07 PM

how can the government regulate how long the banks can hold a piece of property they own? Now if you find a formula that will tell everyone how long or how low a bank will go on a REO then sell it, because you will be richer than bill gates :lol: :D

Edited: 06/26/2010 at 05:20AM

Norm Swansen

Real Estate Investor · Jenkintown, PA

4 posts
1 award
50 influence

Jun 24 '08, 05:42 PM

I thought I read that banks must keep a fixed dollar amount liquid for every dollar of bad debt. If so does this impact their abaility to lend.

Edited: 06/26/2010 at 05:24AM

Jon Holdman

Real Estate Investor · Wheat Ridge, Colorado

Moderator Pro

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Jun 24 '08, 10:02 PM

REOs do affect a banks ability to lend. A performing note is an asset. A non-performing note is a liability. A REO is a liability. The more REO's on a banks books, the more reserves they must keep in place and the less they can lend.

Edited: 06/26/2010 at 05:24AM

Jon Holdman, Flying Phoenix LLC

Norm Swansen

Real Estate Investor · Jenkintown, PA

4 posts
1 award
50 influence

Jun 25 '08, 06:05 PM

Thanks Wheatie, good information to pair with DOM.

Edited: 06/26/2010 at 05:24AM

Paul Cordero

· Scottsdale, Arizona

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Jun 26 '08, 12:18 AM

We have REOs in our inventory over 500 days listed! I don't think there is any regulation or timeline that the bank has to adhere to for REOs, but the only reason I couldn't see a bank liquidating an REO asap is because it is under some sort of lis pendens.

Edited: 06/26/2010 at 05:24AM

Norm Swansen

Real Estate Investor · Jenkintown, PA

4 posts
1 award
50 influence

Jun 26 '08, 01:02 AM

Is that not uncommon for you to have properties near the 500 day mark? Anything unusual about them that they sit that long?
Thanks,

Norm Swansen

Edited: 06/26/2010 at 05:24AM