Driving for dollars REO?

[John Alosio]

I recently discovered a vacant off-market house. I searched the property tax records, found out that the owner is "Federal Home Loan Mortgage Corporation"

They were deeded the property back in 2019. I assume its been vacant since then. The outside appears to be in good shape.

#1: Why would they sit on a house throughout a fire market?

#2: How would one go about contacting a mortgage company to ask about their abandoned property?

Thank you all in advance!

[Jared Hottle]

Potentially some redemption periods, maybe repairs or lining up contractors to make repairs is taking awhile. If it was a small bank I would reach out to them but the big banks are near impossible to get ahold of for a situation like this. I would do some research on what real estate brokerage lists all the Fannie Mae REO stuff in your market and contact them. They should be able to figure out information for you.