Pros And Cons Of New REO Investment

Law360, New York (February 24, 2012, 2:09 PM EST) -- Throughout the financial crisis beginning in 2008, many mortgagers defaulted on their loans and, if unable to modify them, suffered the misfortune of losing their homes. As a result, a substantial number of single-family residential real properties have been acquired by mortgage loan servicers in the foreclosure process as "real estate owned" property, commonly referred to as "REO."[1] In addition, fewer new home purchasers are able to meet the down payment and credit requirements to acquire these properties due to tighter underwriting standards.

As a result,...
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