Word: reose
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One indicator of the severity of the crisis is the number of homes ending up in the hands of banks, which really don't want to be in the real estate business. These properties are known as "real estate owned" or REOs, which is typically a house or condo that...
The number of REOs is skyrocketing. The first three quarters of 2008 show a spike of 190% in REOs in the South Florida tri-county area, according the real estate consultancy firm, Condo Vultures of Bal Harbour. The number of Miami-Dade properties turned over to lenders by the courts...
The moratorium ultimately may help the banks, particularly if it decreases the number of REOs they must contend with. By staving off foreclosures the banks also benefit when it comes to condos because in Florida the lender has to settle up condo fees for the past six months when they...
Still, if you're new to foreclosure investing, bank-owned properties are the way to start. "We highly recommend people flip a few REOs first to get their education," says Beitler. Yet even before that, experts say to attend a number of auctions having researched specific houses - dry runs without...
Cresting the hill on Avenida dos Bandeirantes that leads to São Paulo’s Congonhas Airport, I saw the dense black smoke, blown sideways by the wind. When I ascended the driveway, I was confused. At that moment, the burning warehouse of Transportes Aéreos Mar?...