If you're interested in listing Multi-Family and commercial properties for the banks, you'll want to join this free webinar on Thursday. Presented by CEO/Founder of The REO Institute and acclaimed author of "How To Work Asset Managers", James A Browning will enlighten your world with information you can't get anywhere else! We're pleased to host this for our valued members. Make sure you register in advance since the webinar is limited to the first 500 agents that register. Webinar Information (It's Free) This Thursday June 14th at 1:00 PST. Hosted by REO Industry Directory Presented by: James A. Browning, Founder -REO Institute. Click here to register for the Webinar.
Some asset management companies and lending institutions have their own REO portals you should apply with. It's Free and will get you in their system. These links are usually hidden from public view or advertisement, but our relationships allow us to collect them all. Here are a few we recommend you start with.Precision Asset Management - RegisterAsset Services, Inc. - RegisterBrighton REO - Register
CNN just confirmed what we've been saying for the past month. Today they reported that Bank of America, Wells Fargo, Citibank, Chase and Ally Financial all expect a rise in foreclosures after a dip in February due to delays in foreclosure proceedings, adding that "the foreclosure pipeline was beginning to unclog" and they expect "a climb in the number of homes repossessed". (Source: CNN Money) This news means more REO agents will be getting listings soon. How quickly or slowly the REOs are dripped on the open market is up to the banks, but one thing is for sure; they are coming! Find REO Agents.Read the complete article on CNNMoney.com.
According to Lender Processing Services Inc., both foreclosure starts and sales spiked in the first month of 2012, both up approximately 29%. We know one month of data doesn't neccesarrily qualify as a "new trend", but this surge could definitely suggest that the backlogged forecolosure pipeline is beginning to finally get on a move this year. Other stats reported by LPS:
In a recent report issued by Core Logic, borrowers with less than 5 percent equity in their homes, also known as near-negative equity, stood at 2.5 million for the fourth quarter of 2011. In total, those with negative equity equaled 27.8 percent of all residential properties. The states with the highest level of negative equity were Nevada (61 percent), Arizona (48 percent), Florida (44 percent), Michigan (35 percent) and Georgia (33 percent). The remeaining states in the U.S. have a combined average of about 15.3 percent of negative equity.