REO stands for Real Estate Owned by a financial institution. So far in 2009, over 120 banks have failed and REO property on the books of government owned entities and banks is expected to skyrocket over the next 2-3 years. We are about to see an additional wave of option ARM loans reset in 2010 and 2011 as well as see commercial real estate take a big nose dive to the tune of hundreds of billions of dollars.
So what does this mean to you, the investor? Can you spell O-P-P-O-R-T-U-N-I-T-Y. More bad loans and more distressed properties does mean more opportunity BUT you do need to know what you are doing. Sign up today to see how to position yourself to find, evaluate and take advantage of great deals as they become available.