Late last year the REO opportunity showed its ugly head to me.
After seeing countless people getting foreclosed on throughout the nation, banks gained assets while people lost theirs from state to state.
The lending business impacted the real estate industry with a blow heard across America.
The increase in bad loans has brought the United States government to the table with abnormal solutions.
Banks have thumbed their noses at the fact that real people live in these houses.
Some are providing temporary solutions, like forbearance agreements, while others only care about their balance sheets.
Real Estate investor's have been caught in the cross fire and a few have suffered self-inflicted financial injury due to bad investments.
Those Americans who drank from the cup of the sub-prime are suffering from the bad aftertaste of adjusting mortgages.
Even my own mother has suffered a hangover from the sub-prime adjusting mortgage beverage, which has caused her to stumble and and to pay the increased mortgage payment.
They offered low rates for short term comfort with the idea of refinancing in the future.
The future did come but the nightmare of the collapsing sub-prime industry was not expected.
Thinking back a few years ago the thought had crossed my mind in the early months of 2006 the deals coming into my office was not as creative.
We only did owner finance deals for years; then we started seeing more deals that required loans.
Sounds odd, right? Then, it hit me like a ton of bricks:REO markets will be developing, not only for purchasing but for services as well.
That led me to researching the opportunities available in this market.