May 24, 2007, 22:52,
No lender wants to own property! Every lender wants nothing more than to receive a check on the first of every month for the repayment of a mortgage loan the lender made.
Oct 10, 2006, 23:45,
Bank REO properties had once been a great way to find a property at a discount, but not anymore, as banks are no longer willing to give away property at a discount. They do not mind rehabbing it themselves, and thus REO and REO foreclosures have become not very profitable ventures, leaving only the more experienced investor to try REO deals these days.