What is a REO? REO is the acronym for "Real Estate Owned" and the owner is a bank or institution who held a Note and/or mortgage on a property and then acquired title to the property through some method specified in the Mortgage such as foreclosure or a deed in lieu of foreclosure.
What are the solutions that USAER provides to stabilizing and revitalizing the housing market? USA Equity Recovery has a variety of methods available to us to maximize recovery while helping to begin stabilizing the real estate in its neighborhood. The methods we use will be determined by the condition of the REO and the condition of the neighborhood. USA Equity Recovery will use its team of experts to make decisions to maximize the equity recovered. We offer services such as value assessment, property preservation, maintenance, rehabilitation, and marketing for sale or rent of REO properties.
What geographic areas must the REO be in for USA Equity Recovery to accept responsibility? USA Equity Recovery has a presence in and will currently accept assignments in most large Florida metropolitan areas such Tampa/St Petersburg, Miami/Ft Lauderdale, Orlando and Sarasota.
How long will I need to wait for the Florida Real Estate Prices to reach bottom? This will depend on several factors that need to play out. The prices on most homes purchased in Florida between 2000 and 2008 will need to be reset to realistic market prices which relate to household income. In July 23% of all mortgages in Florida were either behind in payments or already in Foreclosure! Public psychology is not likely to positive until this shadow inventory gets priced to and absorbed by the real estate market.
When we put our REOs in the care of USA Equity Recovery, how will we know what is happening with them? You receive an account number and password to access current data, inspection photos, before and after rehabilitation photos for your properties through private pages on this website.
How will we know how much rehabilitation needs to be done? Decades of experience by the USA Equity Recovery Team gives us the experience to know which items are cost effective to repair or upgrade.