| Repo homes are also known as real estate owned | | | | means to keep them up, or because the repossessed |
| properties (REOs) or bank foreclosure homes. When | | | | homes have been vacant for a long time. You need to |
| a homeowner cannot make the mortgage payments | | | | add the cost of repairs to the cost of the homes to |
| and defaults on the mortgage, the lender starts | | | | determine if you are indeed getting a good deal. |
| proceedings to repossess the home. When the | | | | Government repo homes investing are properties that |
| repossession process is finished, the lender owns the | | | | were financed using FHA insured loans. When owners |
| property and sells it to recover their losses. If you want | | | | default on these loans, the lender forecloses on the |
| to invest in foreclosure homes and real estate | | | | property and the FHA reimburses the lender for their |
| properties but your budget is limited, then purchasing | | | | losses. These government repossessed houses are |
| repo houses is your answer. | | | | then sold to the public, usually at real estate auctions. |
| Repossessed homes present a great investment | | | | You can also get a great deal on other types of real |
| opportunity since the lender is in a rush to get rid of the | | | | estate foreclosure properties to invest in, such as |
| repo houses, and will often sell them at a price that is | | | | multi-family rental units, HUD homes, VA repo homes, |
| lower than the market value. It is not uncommon to | | | | government foreclosures, and other repossessed |
| see repossessed homes sold at a 10, 20, or 30% | | | | properties. When you join our foreclosure listing |
| savings. However, you must inspect repo homes | | | | service, our experienced professionals will help you |
| carefully before you buy. Some of these homes have | | | | select the right repossessed house for you to invest in. |
| been neglected because the owners did not have the | | | | |