REOPro - Real Estate Default Professionals

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Smaller banks are still assigning REO and Tsunami to come!

We are still getting REO assignments from the smaller banks that are not participating in the moratorium and Re assignments. Waiting for moratorium to be lifted. I must say that they need to get the backlog of properties on the market and sold so we can get to a more normal supply and demand situation. Until that happens, prices will continue to drop which is not a good thing.

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Comment by George Kenner on March 19, 2009 at 1:51pm
We are still waiting for the Treasury Plan. Right now no one is being TRANSPARENT about the plan. I have a feeling we are moving to an RTC good bank bad bank. I am afraid that things may be a little worse than has been stated and I say this after the FED injected 1 Trillion into the market yesterday. Plus the big banks are still not even releasing property they have empty in our market.

We of course know that we are not being told the whole story... Would anyone believe that the Adminstration did not know that the FED was going to buy our Treasury Bonds yesterday? Something is cooking!

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