I have seen the websites and gotten emails offering to sell me foreclosure lists, or allow me a peak into a foreclosure database (for $99 monthly!) Having considerable background in the mortgage and investment industries, I know that the bank's REO lists are completely free, so I did a quick search and came up with this list. This is a fairly comprehensive resource to get you started looking for a bargain property! If there is a local bank which does a lot of real estate lending, such as Third Federal in Cleveland, call them directly for a list of REO properties. They will be glad to send it!
REO, or Real Estate Owned, is property that failed to sale at a foreclosure auction and is now owned by a bank. Below is a free list of banks and links to their REO property.
Some links below lead directly to the lenders REO Department while other link to third party websites that provide REO services for the lender.
Countrywide REO:http://www.countrywide.com/purchase/f_reo.asp
Bank of America REO:http://bankofamerica.reo.com/search/
HSBC REO:http://www.banking.us.hsbc.com/
window.google_render_ad();
IndyMac Bank REO:http://apps.indymacbank.com/individuals/realestate/search.asp
Ocwen Financial REO:http://www.ocwen.com/reo/home.cfm
JP Morgan Chase Bank REO:http://mortgage.chase.com/pages/other/co_properties_landing.jsp
M&T Bank REO:http://services.mandtbank.com/personal/bank_owned_prop.cfm
Wells Fargo REO:https://www.pasreo.com/reo/
Washington Mutual REO (WAMU):http://www.wamuproperties.com
American Home Mortgage REO:They aren't taking mortgage applications anymore but they are selling real estate, go figure. ;)http://www.ahmhomes.com
Wachovia REO:http://reo.wachovia.com/
Washington Mutual REO: I could not locate any information about their REO.
Deutsche Bank REO: No information is available online.
SunTrust REO: SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.http://www.suntrustmortgage.com/reo.asp
First Niagra Bank REO: The First Niagra website states that REO listings are not currently available but they do list contact information. http://www.fnfg.com/personal_banking/mortgages/real_estate_owned_sale.asp
Key Bank REO: No Key Bank REO information is availabe at this time.
Compass Bank REO:https://www.compassbank.com/appforms/properties/index.jsp
Fannie Mae REO:http://www.mortgagecontent.net/reoSearchApplication/fanniemae/
Freddie Mac REO:http://www.homesteps.com/hm01_1featuresearch.htm
HUD REO:http://www.hud.gov/homes/index.cfm
HomeSales.gov also offers properties offered for sale by the government.
Coldwell Banker REO DivisionColdwell Banker REO Division
Regions Bank Properties http://realestate.regions.com/servlet/Ore/ForeclosedPropertySearch.jsp
Citibank REO http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
SBA Propertieshttp://app1.sba.gov/pfsales/dsp_search.html
FDIC Real Estate Owned http://www4.fdic.gov/DRRORE/
Sallie Mae Financial Services Properties http://www.grpcapital.com/properties/index.html
BB&T REO (Branch Bank and Trust) http://www.bbt.com/applications/specialassets/search.asp
Beal Bank Commercial REO http://www.bealbank.com/Content.aspx?ID=13
GRP Financial Services Properties http://www.grpcapital.com/properties/index.php
Fifth Third Bank REO: No information is available online.
First Charter REO: No information is available online.
People's Bank REO http://www.peoples.com/im/cda/multi_elements/0,,1355,00.html
State Street REO: No information is available online.
National City Mortgage REO http://www.ncmcreo.com/
Taylor Bean REO http://www.taylorbeanhomes.com/
Downey Savings & Loanhttp://www.downeysavings.com/bank-owned-properties
Do keep in mind as you're perusing these lists, and checking out the properties, that there are some hidden pitfalls to buying a bank-owned property. Here are some tips that can help to make sure your bargain does not turn into a nightmare:
--Budget carefully. Be sure you have extra money set aside for extensive repairs if the house needs it, including paying a crew for labor and materials required.
--Do NOT buy sight unseen. Why would you even consider doing that? The risks are far too great, as many would-be investors have found out.
--Check out the neighborhood. You want to be sure the house isn't in a high crime area, or an area that's been hit particularly hard by foreclosure. Make several trips to the area, including at night, to see what the atmosphere is like.
--Find out how long it's been vacant. Long vacant properties have more damage in most cases. Plumbing seals dry out, pipes can break due to freeze and thaw cycles, sewer gases back up, and bugs that are in the sewer get a chance to get into the house.
--Don't turn on the utilities until you know the condition of the pipes. Besides causing a flood and damage to your walls, you could end up with mold.
--How is the landscaping? Make sure you don't have vines and tree roots growing into the house- they can cause extensive damage that you may not see initially.
--Get an inspection done- the cost is relatively inexpensive (I believe we paid about $400 for one when we bought our home in 2004) and very much worth the money. They can save you money in the long run if they can point out damaged pipes or electricity and you take pre-emptive action to get them repaired.
--Consider government owned REO's through HUD. They generally have been winterized and a condition report is done. There is also special financing available to buyers.
--Do not look for quick profits. With the economy and housing market the way it is, you may not be able to "fix and flip" as so many people did in the past. There are many houses going unsold on the market, so be sure you have the funds available to cover yourself in that event.
Tuesday, May 12, 2009
Five Healthy Motivational Books to Move YOU!
“Life is like riding a bicycle. To keep your balance you must keep moving" Albert Einstein
In times like these, it’s more important than ever to keep your balance! Here are five books to help with your personal balancing act:
1. The Blue Zones: Lessons for Living Longer From the People Who've Lived the Longest By Dan Buettner
Dan Buettner has an association with the National Geographic Society, and is familiar with many cultures around the world. He defines a “Blue Zone” as a geographic area that produces high rates of people living over 100 years. His talks with these people about their secrets to longevity reveal little that is secret. In fact, he finds that they just have naturally adopted healthy habits as a way of life. Some of them are obvious-lots of fresh water, fresh air, and exercise, and others aren’t so black and white. Nevertheless, Dan gives us a lot of insight into how they live, and how we can incorporate much of what they do into our new, longer lives, leaving us with nine main principles to consider and implement.
2. The End of Overeating: Taking Control of the Insatiable American Appetite by David Kessler, MD
A quick Google search on David Kessler, and you find out about a man who earned his law degree from the University of Chicago, while attending medical school at Harvard. He became FDA Commissioner, and led the fight against Big Tobacco, and also rolled out nutritional labeling. In this book, he goes even further, speaking out against the corporations that serve us highly processed, nutritionally lacking foods. Seems that since the 1980’s, processed food manipulation has risen tremendously, along with the average American’s weight! His book gives answers to why these foods have such control over us, and what we can do to change that dynamic so that we can eat the healthy, nutritious food that our bodies require for optimum health.
3. Always Looking Up: The Adventures of an Incurable Optimist by Michael J. Fox
Michael J. Fox rose to stardom as Alex Keaton in 1970’s series Growing Pains, and became a true “movie star” after driving the silver DeLorean “Back to the Future.” This book, however, shows how very human he is, and discusses the years of his life since Parkinson’s Disease created a major detour in the path that had been so certain. Michael deals with his progressive illness with grace, while always fighting back, and knowing that a cure is in sight. He maintains a positive attitude, humor, and optimism towards his illness, which is a lesson for us all to make the best of the situation we are dealt.
4. The 90-Second Fitness Solution: The Most Time-Efficient Workout Ever for a Healthier, Stronger, Younger You Pete Cerqua with Alisa Bowman, Contributor
The author owns and runs four gyms in NYC, and has been a fitness trainer for over 25 years. His program is both revolutionary and simple. Exercises are presented that can be done anywhere for a maximum of 90 seconds, with no workout clothes or special equipment. This plan can fit in the busiest lifestyle, and rave reviews say that it works!
5. Hungry Girl: 200 Under 200: 200 Recipes Under 200 Calories by Lisa Lillien
The latest in the Hungry Girl series, this book is chock full of recipes that are quick, easy, and under 200 calories! Many are modified, lower-calorie versions of restaurant foods, with lots of sweet-tooth satisfaction included.
In times like these, it’s more important than ever to keep your balance! Here are five books to help with your personal balancing act:
1. The Blue Zones: Lessons for Living Longer From the People Who've Lived the Longest By Dan Buettner
Dan Buettner has an association with the National Geographic Society, and is familiar with many cultures around the world. He defines a “Blue Zone” as a geographic area that produces high rates of people living over 100 years. His talks with these people about their secrets to longevity reveal little that is secret. In fact, he finds that they just have naturally adopted healthy habits as a way of life. Some of them are obvious-lots of fresh water, fresh air, and exercise, and others aren’t so black and white. Nevertheless, Dan gives us a lot of insight into how they live, and how we can incorporate much of what they do into our new, longer lives, leaving us with nine main principles to consider and implement.
2. The End of Overeating: Taking Control of the Insatiable American Appetite by David Kessler, MD
A quick Google search on David Kessler, and you find out about a man who earned his law degree from the University of Chicago, while attending medical school at Harvard. He became FDA Commissioner, and led the fight against Big Tobacco, and also rolled out nutritional labeling. In this book, he goes even further, speaking out against the corporations that serve us highly processed, nutritionally lacking foods. Seems that since the 1980’s, processed food manipulation has risen tremendously, along with the average American’s weight! His book gives answers to why these foods have such control over us, and what we can do to change that dynamic so that we can eat the healthy, nutritious food that our bodies require for optimum health.
3. Always Looking Up: The Adventures of an Incurable Optimist by Michael J. Fox
Michael J. Fox rose to stardom as Alex Keaton in 1970’s series Growing Pains, and became a true “movie star” after driving the silver DeLorean “Back to the Future.” This book, however, shows how very human he is, and discusses the years of his life since Parkinson’s Disease created a major detour in the path that had been so certain. Michael deals with his progressive illness with grace, while always fighting back, and knowing that a cure is in sight. He maintains a positive attitude, humor, and optimism towards his illness, which is a lesson for us all to make the best of the situation we are dealt.
4. The 90-Second Fitness Solution: The Most Time-Efficient Workout Ever for a Healthier, Stronger, Younger You Pete Cerqua with Alisa Bowman, Contributor
The author owns and runs four gyms in NYC, and has been a fitness trainer for over 25 years. His program is both revolutionary and simple. Exercises are presented that can be done anywhere for a maximum of 90 seconds, with no workout clothes or special equipment. This plan can fit in the busiest lifestyle, and rave reviews say that it works!
5. Hungry Girl: 200 Under 200: 200 Recipes Under 200 Calories by Lisa Lillien
The latest in the Hungry Girl series, this book is chock full of recipes that are quick, easy, and under 200 calories! Many are modified, lower-calorie versions of restaurant foods, with lots of sweet-tooth satisfaction included.
Grace In Small things 14:365
1. Just had a piece of fresh swiss cheese direct from Amish country. YUMMM!
2. Actually got a little suntanned yesterday. Spring is finally springing here in Northern OH.
3. Planted all my flowers, and two new clematis plants in the front yard. Should be beautiful.
4. Have a new position to Recruit for- IT job in Philly.
5. Had lots of love for Mother's Day and got to se all my favorite peeps:)
2. Actually got a little suntanned yesterday. Spring is finally springing here in Northern OH.
3. Planted all my flowers, and two new clematis plants in the front yard. Should be beautiful.
4. Have a new position to Recruit for- IT job in Philly.
5. Had lots of love for Mother's Day and got to se all my favorite peeps:)
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