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Private Investors can tap into Government REO Pools with simple LOI

As many of you are aware, access to a reliable, consistent source of REO packages has been challenging due to changes in the banking systems brought about by a volatile market place and a flurry of new policies introduced by the government. As we now see many banks beginning to pay back bail out money and many more starting to implement plans to stabilize, programs have been put in place to facilitate disposition of toxic assets. The private sector is being encouraged to participate in this process and the timing is excellent for you to take advantage of this situation.

We have been fortunate to be aligned with one of the first groups given approval to tap into government sponsored pools of REOs. There are also services in place to support private investors interested in the process of purchasing and managing packages of REOs. Details will be following shortly, but in the meantime the best part about this program is they have made it very easy to test the waters.

The only requirement to begin the process of acquiring REO packages is to submit an LOI. That’s it. Buyers will be required to proof up directly to the institutions at the appropriate time, but for now buyers just need to submit an order with specific details outlining their buying criteria. Please be as descriptive as possible and include total budget for a package of REOs, geography, average price, desired discount, and as many other details as necessary to ensure there is no misunderstanding of exactly what is wanted. For now we will be focusing on residential REOs only, although we have been told a variety of instruments will also be made available.

For now, our marching orders are to bring as many LOIs as possible to that call to give buyers the first opportunity to plug into this resource. The purpose of this post is for you to get a jump on the process by submitting your LOIs between now and Friday. I’d prefer to under promise and over deliver but from what I know so far, this may be the best access to product to date that I’ve ever had to a reliable source of product.

So in closing, if you’d like me to try and represent your best interests to acquire a package of REOs, please submit your LOIs with appropriate detail and we’ll push to get your request to the front of the line. Thank you for your consideration.

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