Aug 06
Is PREO just another website that combines foreclosure activity with MLS listings?
No, none of the properties checked were listed for sale, but all were on foreclosureradar.com’s NOD or NOT lists. Most of them have IndyMac loans on them, and their bid prices are different than the amount owed – and usually well under! It sounded like they have partnered with the lenders to offer these properties to the public, but not sure if it’s a glorified short-sale, or an actual open bidding process before, during, or after the trustee sale.
via bubbleinfo.com.
great post