Pasted from my blog at http://reoangels.wordpress.comREO is fast becoming a household acronym, almost achieving the same success of its predecessors TV and USA. REO stands for “Real Estate Owned”. Typically, this real estate that has been designated as an REO is owned by the lending institution that has just finished foreclosing on the property. For a property to earn the designation as an REO, the property has to be vacated by the tenants and owners which itself is a long and arduous process.Who are the REO Angels?The primary members of the REO Angels Team include Mary Gonzalez. Ivonne Valdez, and Guadalupe Silva. Yes, there are 3 Angels only. There are male members of the REO Angels team and weshould not call them angels, because after all that would be just plain rude.What do the REO Angels do?The REO Angels manage a large portfolio of properties that are owned by the lending institutions and asset management companies typically involved in the foreclosure process. The REO Angels aide the bank in securing, marketing and selling the aforementioned large portfolio of properties.Why should I care who they are?If you are a homeowner in distress, having trouble paying the mortgage, the Angels provide one-on-one consultations to help you through the foreclosure process. If you are a first time buyer of real estate or an investor looking for some great deals in real estate, the experience of the Angels will help you in your search for the perfect investment or the perfect place to call home. Of course, the “perfect” designation takes into account the suitability of the purchase according to your current financial situation.
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