All Posts Tagged With: "bank owned"

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Even the Governor Wants to Buy Bank Owned Property

I can’t help myself I have to release my gut reaction to the news I read today about the Governor putting together a $20M fund to buy bank owned property.
The Herald reported today that (in case you’re wondering I read it online, I don’t buy the Herald):
Massachusetts will create a $20 million fund to acquire [...]

10Apr2008 | Brecht Palombo | 0 comments | Continued
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Bank Owned Deals vs. Short Sales

To put it real simply, bank owned property has been through the foreclosure process, the title has been cleared, and now the lender owns the property. A short sale is where the owner has ceased making payments or is significantly in default (usually), owes more than the property is worth and is cooperating with the [...]

7Apr2008 | Brecht Palombo | 0 comments | Continued
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REO and Nonaccrual Construction Loan Balances Skyrocket in Massachusetts

I just completed a study of thrift reports for the commercial lenders in Massachusetts. Bank owned property also known as REO or OREO and non-accrual balances are skyrocketing.
I began this exercise last year as we were “cranking up” the auction business in order to get a feel for what is happening in our [...]

29Feb2008 | Brecht Palombo | 0 comments | Continued
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