So When the FBI Raids the Bank That Has the REO?

Question

I kid you not, I have no less than 20 houses that I'm searching for the owner, where I thought it was a dead end, then i researched the bank / mort comp, and found they were closed / raided / jailed / fled the country.

So the simple question is, NOW WHAT?

Jim Stardust · Answer

FDIC usually takes assets over and sells them to other institutions.

Kevin Cardinale · Answer

I contacted another mortgage company and they suggested that the loans had to have been sold to someone and to check a title company to see whom they were sold to.

So anyone have a good title company in vegas they work with?

Rusty Thompson · Answer

I'm imagine they will be auctioned eventually like most government seizures.As of right now they are probably considered evidence & will be held as such until the court hearings are over.

So When the FBI Raids the Bank That Has the REO?

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