REO Pro Corp Providing New Options for Homeowners Facing Default

Please direct inquiries to:

Michael Gold - info@reoprocorp.com

FOR IMMEDIATE RELEASE: August 16, 2013

REO Pro Corp Providing New Options for Homeowners Facing Default

Wilmington, DE - Many homeowners are not aware of the options available to them after a default on their home loan. REO Pro provides a concise, client-facing BPO (opinion of value of their home) with instructions and advice for the homeowner. They are made aware of the options available to them through a local real estate agent that specializes in defaulting assets, such as a short sale or a loan modification. In many cases, the homeowner who has defaulted is introduced to several options to avoid foreclosure.

When a BPO is requested by the lender, a Real Estate Agent is needed to put a value on the home. BPO’s are generally very long, descriptive documents, around 5 pages, and are extremely valuable to a professional in the Real Estate industry, but above the layman’s understanding.

If the homeowner is in default, their servicer may begin the foreclosure process. This adds to the cost the homeowner will have to pay to bring their account current, plus the foreclosure filing will be a matter of public record. What is impacted the most during this process is the credit of the homeowner. If they aren’t able to bring their loan current or work out another solution, their home might be sold at a foreclosure auction. In many states, they may also be responsible for paying a “deficiency judgment,” meaning the difference between what the foreclosed home sells for, and the remaining amount owed to the bank.

REO Pro not only provides real estate agents with the tools they need to quickly sell an REO property, such as aiding in the removal of the tenants, but also provides resources for the home to improve or maintain its condition. Things like landscape upkeep, home repairs, and even protection from looters or vandals can be difficult for an agent with multiple listings to keep track. All of this is provided through the REO Pro dashboard and customer service center.

REO Pro is the connection between the lender and the agent selling the home. The process starts with a BPO, when a lender needs a certified agent to establish the value of the home, and assess the condition of the home. Let’s face it, lenders do not want to be landlords. Real Estate agents don’t want to be landlords either, and the faster they sell a home, the more money they can put in the bank.

For more information on REO Pro, visit their website at http://reoprocorp.com

REO Pro is a nationwide servicer for some of the most respected names in the Real Estate and Mortgage industries. Our mission is to provide quality service, fast results and a personalized touch to all our partners.

1000 N West St #1200 Wilmington, DE 19801
1-302-570-0REO
info@reoprocorp.com
Michael Gold - contact

This release was published on openPR.