Bank Short sales and Bank REO

There is a difference. A Bank short sale is where the owner still has the home and can make an initial decision on a purchase contract, but the final decision for acceptance is with the mortgage holder.

The Bank REO is property owned by the bank and was not purchased at the foreclosure sale. Here the bank makes the final decision.

Both can be good buy's investment wise, but the buyer needs patience as these deals can take weeks and even months before total acceptance. But they can be well worth the time.

Hey Home Buyers.  President Obama's stimulus package has passed and the lenders are ready to lent for home purchases. Rates are absolutely unbelievable and Ist time buyer programs are there on top of the tax credit. Call me today and I will hook you up with someone to discuss your loan options.

Obama, just got the stimulus package passed and the mortgage lenders are ready to loan money for mortgages. The lenders have lots of swell programs for 1st time home buyers on top of the tax credit.