Buying a bank owned home?

June 5th, 2010 by Eric
Categories: News

Buying a bank owned home today is still the best deal out there but it comes with heavy competition. Many people are after the illusive bank owned home so you’d better have your homework done. What this means is that you should have already spoken with a lender and become fully underwritten and issued an approval letter. Have me or your agent include that letter and the first 2 pages of your credit report with any offers you make along with your asset verification (proof of funds) for your down payment. Hopefully, you will have a minimum of a 20% down payment or otherwise you will have a rough time getting an acceptance on a bank owned home (REO). You can still get an approval occasionally with less than 20% but then some magic needs to be created. Contact me and I can explain further. This site gives you free access to all the bank owned homes (REO) in and around Orange County California. For any lender questions, please contact our preferred lender Bill Daniels at www.billtdaniels.com.

Tags: bank owned, foreclosure, reo

This entry was posted on Saturday, June 5th, 2010 at 7:55 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.