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Robert Rein
  • Investor
  • Bordentown, NJ
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Getting a bank to negotiate an unlisted REO?

Robert Rein
  • Investor
  • Bordentown, NJ
Posted Jan 29 2016, 17:44

There is an abandoned REO across the street from where I live and managed to get the full story from a city commissioner. He informed me that BOA foreclosed on it almost 10 years ago and has never tried selling it. The power is still on and the bank sends someone over to cut the lawn; likely to avoid city fines. The comissioner wants it fixed up and occupied so the city doesn't spend years trying to get it back through condemnation.

Is there anyway to get the bank to discuss selling it?

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