How to Find REO Homes
An REO (real estate owned) home is a home or property owned by a bank because the initial owner was not able to pay their mortgage or defaulted for some reason. They can offer great deals to people looking t buy homes and REO homes tend to be much cheaper than the typical home on the market. Learn how to find REO homes so that you can start looking and soon buy an REO home.
- Difficulty:
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Instructions
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Search Free Bank Online REO Listings
Many banks and loan holders offer free listings of their REO homes and REO properties so that you can look for an REO home to purchase. Some of the biggest listings and easiest to use REO listings are: Bank of America REO Search, Chase Bank REO Search, Wells Fargo, and CitiGroup REO search. You enter you location and get a free list of thier REO properties with price, address, and sometimes photos. -
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Search Ocwen Financial to find REO Listing
The second place you will want to search to find REO homes is Ocwen Financial. This company provides services to many banks and due to that lists thousands of REO properties. In fact, Ocwen Financial offers more REO homes than any other service. Click on Properties for Sale on their home page and you will be able to begin your REO home search. -
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Check Loan Holders to Find REO Homes
The last place you will want to look is on the sites of loan holders like Fannie Mae and U.S. Home Mortgage for REO home listings. They have easy to search databases of all thier REO and foreclosed homes so that you can search for an REO home in your area. -
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Before buying an REO home make sure to check with your financial institution and also read a lot! Use the links of this page as well as other internet resources to learn about buying REO homes and REO properties before you move forward too quickly.
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Tips & Warnings
Check your local newspaper as well! They will list REO properties in the Real Estate section.
