REO

Sometimes as a creditor you end up on a road you never intended to be on. But following foreclosure proceedings, you might find yourself in possession of an REO property. An asset you’d rather do without. After all, you’re in the business of lending, not moving real estate.

The disposition of REOs involves a complicated process that requires expediency, tenacity, resilience, patience and the experience to proactively address the numerous legal contingencies that can spring up.

Experience in navigating the time-intensive process and having the proper infrastructure in place are key to offloading the property efficiently to recoup your losses and mitigate financial burden.

At Hutchens Law Firm we deliver exactly that. Across our offices we average nearly 500 closings per month. From the volume of closings, we’ve developed streamlined strategies to successfully remove REOs from creditors’ balance sheets.

Offload the burden and the property

Our comprehensive REO service can manage the entire process for you, taking the burden off your hands so you can get back to the business of lending. Our entire REO team is trained on reading titles and experienced in dealing with title insurance companies to resolve defects that are discovered post foreclosure sale and prior to the REO transaction. We pride ourselves in being very technology forward, and leverage our experience with AMN, LPS, Equator, and other technology to get the job done efficiently.

We can clear all title issues, prepare your deed, and assure that the REO settlement is completed in accordance with the requirements of the contract. We coordinate the closing, making contact with listing and selling brokers and buyer’s attorney to ensure that closing takes place on time and that settlement proceeds are disbursed expeditiously per your requirements.

We also contact and deal with the Homeowner’s Associations for each of your properties and have a proven system that minimizes Homeowner Association surprises.

As testament to our professionalism and expertise, our firm has represented the Federal National Mortgage Association with regards to its REO portfolio for more than a decade.