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REO's and the Bailout 
9 posts by 7 users
Tate_DReal Estate Investor Orem, Utah |
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Im pretty new to the REO element of RE but am curious what affects any of you have seen from the announcment of the bailout, or even what you are anticipating from it? Thoughts? |
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Jason T.Real Estate Investor Kansas City, Missouri |
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As a rehab and flipper almost every house I buy is an REO and so far I have seen no difference since the bailout. The bailout might slow down foreclosures in the future but it takes at least 6-12 months from the time a foreclosure starts until its available for resale. So, if the bailout does slow foreclosures I don't think we'll see much change for at least 12-24 months. True, banks are re-negotiating may bad loans but it's impossible for them to stop all or even a decent percent of foreclosures. |
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Rich W.Real Estate Investor sioux falls, South Dakota |
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Jason- I have to add a couple caveats. In my state, foreclosure notice to sale is 21,,,,,,DAYS total. We are the death penalty state in both crimes and foreclosures. |
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Lee C.Real Estate Consultant San Antonio, Texas |
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Fellow Texan |
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nationwidepiReal Estate Investor Santa Clarita, California |
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Fellow Texan Investor here as well. |
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Jon H.Real Estate Investor Denver, Colorado |
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Nevertheless it's a lot longer than 21 days from the first late payment until a REO is listed on the MLS. |
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Rich W.Real Estate Investor sioux falls, South Dakota |
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Still not much time to work on short sales, foreclosures etc. After bank gets the property due to no bids, could be YEARS before mls has it. |
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nationwidepiReal Estate Investor Santa Clarita, California |
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Options unlimited today. Much to choose from. Get involved with homeowner pre-foreclosure, short sale with lender, buy from auction, buy from MLS. |
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Phil *.Real Estate Investor Connecticut |
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Thank god for the bail out .. the CEOs almost didnt get there $5M XMas Bonus!
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Posted: 10/28/2008 at 10:34AM
