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Welcome to How to buy a Foreclosure video series. In this video series I explain One of Five ways to buy REO's. REO's are Real Estate properties owned by a Lender. Why would a lender take a loss and work with you to buy a property under market value? Because lenders are not in the rental property or property owning business. If a lender has a large backlog of unsold foreclosures. Such as new homes, unfinished homes, condos or even apartments. That lender is losing money very fast. If the market is slow they can foresee big losses. This creates an opportunity to save big and buy below market value.
| Settlement with failed lender bars foreclosures (The Columbus Dispatch) A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio and has effectively been put out of business, Ohio Attorney General Nancy H. Rogers said yesterday. |
| House price falls slow but market faces a long path ahead to recovery, lender warns (Daily Mail) The rate at which house prices are falling eased 'significantly' this month but a market recovery still remains some way off, a mortgage lender has said. |
| U.K. takes over Royal Bank of Scotland (International Herald Tribune) Private investors shunned the lender's share sale, paving the way for a larger government role in Britain's banking sector. |
| Settlement bars lender from Ohio (The Cincinnati Enquirer) COLUMBUS - A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio. |
| Bankrupt subprime lender can't do new business in Ohio (The Columbus Dispatch) COLUMBUS -- A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio. Ohio Attorney General Nancy Rogers announced the agreement today with New Century Financial Corporation of Irvine, Calif. |
