Office: (909) 445-0123
Direct: (909) 851-9953
If you’re like most people, buying a home is the biggest investment you will ever make. So whether you’re starting out, purchasing your dream home or simply looking to seriously consider an investment property, why not take advantage of my extensive experience as a local market expert for Claremont to make the most informed decisions you can, every step of the way?
REO: REAL ESTATE OWNED property, as already stated, is a property that a mortgage lender takes back into its ‘care’ as a result of a foreclosure on a home that has not yielded a buyer during a foreclosure sale. There maybe many reasons why a foreclosure sale by the mortgage lender fails (these will be looked at later), leading to a REO sale. The fact that the house is being sold as a REO property should not detract the buyer from the property. In most cases there is nothing suspect, or wrong, with the property that is for sale by the lender, other than the fact that the previous owner could not afford the repayments.