Lenders around the United States are not telling the American public the extent to which they are really buried financially in many homes within their REO departments. Real estate owned is REO in bank jargon. Foreclosures.
These so called “toxic assets”, homes with drainage problems many times, are often homes with home drainage problems that have been known for a long time by the lender. If the lender is the seller, beware. (more…)
