Wendy Morris Presents:
The Florida Dream
Wendy Morris Realty
Dr Phillips Luxury Real Estate
407 575 5392
Call Today!

Listing Search

WHAT IS A REO REAL ESTATE OWNED | 32819 | 32836 | Dr. Phillips

NEXT
PREV

WHAT IS A REO REAL ESTATE OWNED

The terminology REO is a short version for Real Estate Owned. Investors typically picks up the homes at a bargain. Reports show that there will be many on the market in 2021 along with Short Sales. This is when a bank takes over the house from the owner. There are several steps that will occur before the bank has to take home from owner. First of all the owner has to be behind at least ninety days in payments. Of course letters and emails are sent once late each time.

Once this is encountered a lis pending is put into county records to make this official and the home will show as distressed. All banks operate differently. Many give time to make up payments or work out a plan. There are so many scenarios that can be worked based on income of families and this varies from bank to bank.

Many give extra time to make up payments based on circumstances of finances and or hardships. The owner is officially notified by certified mail of their rights and communicate with their bank and if there is no final decision in place.

SECOND

Generally banks offer cash for keys is the most effective way for banks to have the tenants removed quietly and this is much cheaper than going through the eviction process and owners being served by the process server. This can be a lengthy process and the next costly way to remove tenants.

LAST

Thirdly is the last thing a bank wants to do is take the owner to court and obtain a huge court cost with many additional expenses. This put a lot of added pressure on owners not to include what they are already going through.

Many times these are legitimate situations with families such as job, death etc to lose income to pay bills. If you have any questions whatsoever feel free to call me at 407 479-8583. This is a lot to of information keep up with current laws to advise what you need to do. I am on top of it with over 17 years as a professional realtor and trusted advisor of experience and through the last crisis. Facebook Kevin Sells Florida and Kevin Selling Florida. Serving Dr Phillips and Central Florida. Learn more abut Kevin Strawter click here /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html



All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 4/15/24 12:50 PM) |
Featured Listings
Orlando Real Estate
$299,999
2 BED
2 BATH
Welcome to your dream condo in Orlando. This beautifully fully furnished condo offers a unique blend of comfort, conven... Read More
Orlando Real Estate
$158,000
1 BED
1 BATH
Amazing opportunity to own this Beautiful Fully Furnished 1 Bed/1 Bath Condo-Hotel Studio located in the heart of Orland... Read More
Orlando Real Estate
$630,000
4 BED
3 BATH
Welcome to your dream home in the heart of Orlando's prestigious 32836 zip code, nestled within the highly sought-after... Read More
Orlando Real Estate
$1,249,900
4 BED
3.5 BATH
A luxury and exclusive single-family POOL HOME, PREMIUM OVERSIZED LOT, located in the fantastic community of Parkside ... Read More
Orlando Real Estate
$859,000
4 BED
3.5 BATH
POOL HOME IN THE HEART OF GATED, 24 HR SECURITY VIZCAYA in Dr. Phillips. ALL APPLIANCES, WASHER and DRYER, and Home... Read More
Orlando Real Estate
$605,900
3 BED
2.5 BATH
REDUCED PRICE -Located in the heart of Dr. Phillips and nestled among the three major theme parks, Disney World, Unive... Read More
Orlando Real Estate
$1,380,000
4 BED
3.5 BATH
A TRULY EXCEPTIONAL HOME LOCATED IN THE DESIRABLE AND HIGHTLY SOUGHT AFTER DR. PHILLIPS AREA. THIS TOLL BROTHERS HOMES F... Read More
Orlando Real Estate
$985,000
4 BED
3 BATH
Welcome to this meticulously maintained, original owner home nestled in the heart of Dr. Phillips within the prestigiou... Read More
Orlando Real Estate
$1,100,000
4 BED
3 BATH
New & Improved Price! BEST PRICE in the subdivision! Embrace elegance and convenience in this fully furnished, Modern M... Read More
Orlando Real Estate
$314,000
2 BED
2 BATH
This Point Orlando Condo Hotel has Location, location, location just a block away from International Drive with all th... Read More
Contact Kevin Strawter

407 575 5392

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
16797 Broadwater Avenue
Winter Garden, Florida 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2024 drphillips.info - all rights reserved. | Site Map | WHAT IS A REO REAL ESTATE OWNED | 32819 | 32836 | Dr. Phillips