REO loans have helped many investors realize their dreams of real estate investment. REO (real estate owned) properties are bank-owned properties and former foreclosures that for whatever reason, are leftovers from foreclosure auctions. With so many homes in foreclosure, this is very common, and while some REO homes are badly in need of repair, some are in good condition, and represent a unique opportunity for anyone interested in real estate investment.
Once a home is foreclosed upon, the ownership reverts back to the bank, and the home is made available for sale, in the majority of cases at a price well below market value. Foreclosed homes are sold as-is, which means that there may be repairs that need to be made to make them sellable or even financeable by a conventional lender. Most foreclosed and REO homes are usually in need of rehab in some aspect, and this can mean great bargains for the astute real estate investor with a private lender available at a moments notice.
As one of the nation's leading private rehab lenders, we specialize in offering a wide variety of REO home loans and REO loan services to meet the needs of our investors. Our loan programs allow investors to borrower money for the purchase and rehab of SFR 1-4 unit's distressed properties. Our loan programs and requirements are posted on our website for easy reference.
When choosing an REO property, take into account the asking price, the condition of the home, and the repair costs, as well as the neighborhood in which the property is located. Keep in mind that with an REO home, as opposed to a foreclosure sale, you will be given the opportunity to inspect the property before purchasing, which is another definite advantage.
Visit www.zincfinancial.net for REO loan programs and investor requirements, or contact us today to learn more about your REO loan options.
© 2016 ZINC Financial, Inc.Loans made or arranged pursuant to a California Lender's License