What Does Assumable Mean Definition – What does Assumable Mortgage mean? An assumable mortgage is a mortgage where the seller of a house transfers his or her remaining mortgage to the buyer of a house. So, once the buyer of the house gets legal ownership of the house, he or she simply continues to pay the mortgage that the previous owner was paying.
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· An REO agent generally attends sheriff’s evictions, and is responsible for dealing with the stuff — trash and otherwise — that the recent owners have left behind. Often, the agent is required to pay the outstanding utility bills, then wait up to 90 days for reimbursement.
Lindahl has only been an agent since 2009 when he worked for Edina Realty. to change and I made a pivot and got away from short sales. So many short sale and REO [real estate owned] experts didn’t.
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However, working with a real estate agent is an easier, and often more reliable, way to find REO listings. The agent will be able to find several options in your area from more than one lender.
When I worked for a direct mortgage lender, one of my job functions was pre-approving people who were interested in submitting offers on our REO properties. I had a fairly heavy amount of contact with.
REO Agent Society is a community of real estate agents working to build their business in this lucrative segment. Whether you are new to REO or a seasoned veteran, you’ll find the REO Agent Society to be a valuable resource. Learn More. Join Us.
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Real estate owned (REO) is the name given to foreclosed-upon real estate, such as detached houses, condominiums, townhomes, and land, in a lender’s portfolio. Such properties end up in lender.
No one disclosed any of these problems when I was in escrow – not the bank, not my real estate agent. Who can I hold responsible for repairing this mess? -Nita DEAR NITA: When you buy a foreclosed.
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