Competition for REOs Heating up; Due Diligence Key to a Winning Bid

“In an article in Freddie Mac’s Executive Perspectives blog Bowden writes that this is good news for taxpayers who are currently benefiting from Freddie Mac’s profits, however, some potential buyers may be worried about being priced out of the REO market.  The brokers who handle HomeStep properties are getting more questions from those buyers about how multiple offers are handled and how buyers can best position themselves to submit a winning one.”
http://www.mortgagenewsdaily.com/09082014_reo_freddie_mac.asp

Shadow Inventory Quickly Evaporating

http://www.mortgagenewsdaily.com/04032014_corelogic_foreclosures.asp

“There were a total of 43,000 completed foreclosure in February, CoreLogic said today.  This was 15 percent fewer than in February 2013 when foreclosures numbered 51,000.  It was also 7,000 fewer foreclosures than in January 2014, a decrease of 13.1 percent. The company said that since the financial crisis began in September 2008, there have been approximately 4.9 million completed foreclosures nationally. “