The Fed also announced a cut in the rate it charges to lending institutions from 3.5% to 3.25%.

I have one myself and you can set them up with a lot of different institutions.

Until the financial institutions can figure out the values of the products that they are holding and start lending again, and the consumer picks up their spending, the U.S. will be hurting for a while.

Applications are made through an FHA-approved lending institution.

Well if you are listing the REO's direcly, as in they are coming directly from your bank/financial institution, then check out a local REIA, there are many investors out there willing to pay you for a list that is accurate and timely.

My property is in Royal Oak, MI - just outside of Detroit.To add another wrinkle, I'm getting married in a month, so I'd like to file the paperwork beforehand.

clerk: "No sir"allcash: "Royal Automobile Club" (Great Britain, but hey we were colonies once)clerk: ???

I bought one in tennessee called Port Royal, and now the trada website is down and Kevin Geddes is telling me I didn't buy from Trada but from Geddes and Co.

So a $35K initial offer on a $40K list means you will be paying somewhere between those two figures.That works whether it's a big institution or an individual homeowner.

I have never tried the product for myself but according to Andy Rosas form the Coaching Institute it works great.