More uncertainty has been created by this "foreclosure freeze" buzz and uncertainty is never good for business.
One of the areas that investors like me are now concerned about is the sale of REO's (Real Estate Owned) or bank owned property that you may have recently purchased.
Some people that lost their homes to foreclosure are now contacting attorneys about the possibility of getting their homes back, even months after the foreclosure ended. What could this mean to you?
If you sell a property that was an REO, your purchase and sale of said property could be undone if the bank that sold you the property did something wrong during the foreclosure proceedings. Can you imagine the mess you'd be in? It could END your real estate investment career.
I invite you to comment on this and previous posts.
My dear friend:
ReplyDeleteWhat you are pointing out is just one of the ugly factors that have surfaced among thousands of homeowners. Most people don't have the slightest idea as to where this mess is going and for that matter neither does the "wonder boy" and his collegues that we have in Washington, D.C. I am sending you a book titled "AFTERSHOCK" it will scare your pants off.
Un abrazo Roberto Argüello