Private Individual’s REOs
Thursday, July 3rd, 2008A Private Headache
There are many individuals who become involved in real estate repossessions unexpectedly and in an unwanted fashion. For example, Fred took back a second mortgage for $10,000 on his house 3 years ago. He thought he was through with the property.
But when it came time for the buyer to pay off the balloon on the second, the person defaulted. Fred was forced to start foreclosure proceedings and take back the property. Now Fred has a real headache.
investment property