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REO Foreclosure Services | James Strebel
James Strebel is the President and CEO of REO Foreclosure Services. REO Foreclosure Services is a preferred referral partner of Gustan Cho Associates and its subsidiaries. The business model of “REO Foreclosure Services” typically refer to the suite of services provided by banks or financial institutions for managing properties that have been acquired through foreclosure. These services may include:
Property Management: Banks often need to manage the properties they acquire through foreclosure. This can involve tasks such as property maintenance, repairs, and ensuring that the property is secure.
Marketing and Sales: REO properties need to be marketed to potential buyers in order to sell them. This may involve advertising the properties through various channels, coordinating showings, and negotiating offers.
Title Services: Clearing title issues is an important aspect of selling REO properties. Banks may provide title services to ensure that the title is clear and marketable.
Closing Services: Once a buyer has been found for an REO property, closing services are needed to finalize the sale. This may involve coordinating with the buyer, their lender, and other parties involved in the transaction.
Asset Valuation: Banks need to accurately value their REO properties in order to determine listing prices and make informed decisions about their disposition.
Loss Mitigation: Some banks offer loss mitigation services to help distressed homeowners avoid foreclosure. This may include options such as loan modifications, short sales, or deed in lieu of foreclosure.
Overall, REO foreclosure services are designed to help banks efficiently manage and sell properties acquired through foreclosure while minimizing losses. @Lilboss
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2 Replies
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Did short sales start to hit the market yet? From all sources I have been hearing is three signs that an economic crisis is looming right around the corner if it hasn’t already. 1. RECORD BANKRUPTCY FILINGS 2. FORECLOSURES, 3. HISTORIC HIGH DIVORCE FILINGS.
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I just got an application for four different property preservation companies this week. One of them was for HUD and they were telling me that the markets could be hitting hard next year so there should be tons of work coming in.