Ever wonder how a bank came up with REO to describe thier foreclosed properties? Back in 1932, shortly after the start of the depresssion, many homes were foreclosed on and taken back by thier respective lenders. One of those lenders was Robert E. Owlandaer, a prominent cattle rancher and banker. Mr. Owlandaer did not believe in working with borrowers and foreclosed on most properties. After awhile, the bank was no longer and the single largest real estate company in the US was formed. REO Homes Inc.
Therefore the concept of REO became synomonous with bank owned properties, REO.
Now if you believe this story, then you may have fallen for many other tricks of the trade to get you to buy into an overpriced home or mortgage. As in this bogus story the value of your home in now owned by the bank. But there are things you can do to try and save your home.
We here at Lifter Realty, know the ins and out of the real estate market. From dealing with lenders, sellers and buyers, we can help you make the right decision. Although, we like to read books on fiction, our business is real and to the point.
So visit or call us today, for your free market analysis of South Florida real estate 305-651-1516 or http://www.elocallink.tv/profiles/fl/miamigardens/2/index.html
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