When the US real estate market was booming I was spending quiet a bit of time looking for Bank REO websites on the internet. There are plenty of sites out there that promise to give you access to foreclosures, bank real estate owned and other distressed propeerties but it looks like they are more in the business of racking up fees rather than in the business of providing valuable information to the average investor who is looking to purchase a good property at an affordable price...
As the real estate market collapsed, foreclosures have skyrocketed. Due to lack of credit availability, the banks normally put these properties up on the auction block but when they cannot get the price they want, they take the properties back in house into their bank REO inventory.
So I wanted to post this link here for everyone who is looking to buy an REO direct from a bank but they do not want to pay those idiotic fees that many subscription-based websites charge.
This website lists the REO webpages of banks that list their REO inventory. It's free of charge and the most comprehensive list I have found so far. It includes bank REO websites of Countrywide, Wells Fargo, Bank of America and other behemoths that hold thousands of foreclosed properties right now. Contact information included. Enjoy!
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