One of the Sowal poster's was saying the other day that they knew of a group (who maybe worked with Countrywide) and bought 25,000 REO's. What's your take?
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Area Foreclosures
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Cwide's two largest lending geographies were FL and CA where they had a total of 5-6,000 REOs; I seriously doubt that they could have REOed 25,000 by now even if they had that many to go and get, clean them up, wrap them into a bundle, push it through bankruptcy, get all the creditors approvals, etc.
I was the poster. It wasn't Countrywide. It was the FDIC. They didn't "buy the REO's.....they
contracted with them to sell their foreclosed properties.
That may have been an IndyMac deal. Restructuring; won't work.
How does it work? Who has the salespeople? Thanks
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Just added Panama City Area Foreclosures-
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There are some good deals, especially for gulf front condos.
http://www.joshmcleanhomes.com/buyer_mistakes.asp
There are some good deals, especially for gulf front condos.
Sorry I'm late in getting back...knee deep in wedding planning for daughter #2 with a 3 month
notice. Per daughter #1...she's overworked and exhausted but relayed the following.
The structure of how they are going to do this in simple terms is basically this. 1. Portal (virtual office) for management and distribution of all 27,000 REOs has just been built for that company alone. My daughter is the supervisor and will be hiring 300 asset managers to handle roughly 300 listings each. There is also a system in place that sole job is to get brokers all over the U.S on board and ready for their use. So basically the asset manager assigns a property to the closest broker and then the tasks start pouring out until the home sells and everyone profits.
Whatever, Sheep......Are you sure you're a SHEEP and not an ASS?
So all knowing and negative in your posts. Why is that necessary?
A bit of an "old boys club" ...this realtor group, with lots of pats on the
backs to blogging male counterparts. Some very useful posts by those
who really are trying to help others so I'll just pretend you don't exist.
So all knowing and negative in your posts. Why is that necessary?
A bit of an "old boys club" ...this realtor group, with lots of pats on the
backs to blogging male counterparts. Some very useful posts by those
who really are trying to help others so I'll just pretend you don't exist.