COUNTRYWIDE SELLING REOs direct to public

[farbet]

http://www.californiahousingforecast.com/in-the-news/2008/4/28/countrywide-selling-reos-direct-to-public.html

Mon, Apr 28 2008 – 3:41 AM
Countrywide selling REOs direct to public
Countrywide will sell its REOs directly to the public, in some California cities

Countrywide selling REOs direct to public
Posted on Sunday, April 27, 2008 at 09:41PM by Schahrzad Berkland | Post a Comment
I’ve been waiting for this: banks selling direct to buyers. I thought it would be investors, but they are going after the most weak financially: first time buyers and minorities. Figures!

Countrywide teamed with New Vista Asset Management to set up a direct sales program.

The two companies will work to ensure that homes are made available to qualified first-time and minority homebuyers. The companies will be hosting several community seminars for first-time buyers to teach them about buying real-estate owned homes and different financing options.

The seminars initially will be held in Los Angeles and Dallas. However, the companies are also working in the San Diego, Sacramento, Las Vegas, Fort Worth, Houston, San Antonio and Atlanta markets.

“By marketing and selling REO units directly to first-time and minority home buyers, New Vista and Countrywide are advancing our mutual commitment to increase affordable housing opportunities and act as responsible contributors to the local housing market,” New Vista’s Chairman Gary Acosta says.

[farbet]

For those new to this site AKA Poway Seller

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For those new to this site AKA Poway Seller

[farbet]

For those new to this site AKA Poway Seller

[farbet]

For those new to this site AKA Poway Seller

[farbet]

For those new to this site AKA Poway Seller

[NotCranky]

I wouldn’t be surprised if this is required by regulators or that CountryWide sees the writing on the wall and knows that it better get affirmative about making amends to first time buyers and minorities. Just guessing. When I bought a house in Normal heights in 1992 my mortgage broker got me a discounted rate from BofA. They had made an agreement to offer lower rates in zip codes where they had been proven to have record or redlining.
Anyway, as long as the houses are in areas that have been deeply discounted, I see this as a good thing for first time buyers and minorities. Lots of poor people and first time buyers have stepped on the property ladder quite successfully in busts.They are lucky because they are already used to the neighborhoods that are increasingly selling at deep discounts and have some advantages over investors, the other group that buys properties in marginal areas.

[NotCranky]

I wouldn’t be surprised if this is required by regulators or that CountryWide sees the writing on the wall and knows that it better get affirmative about making amends to first time buyers and minorities. Just guessing. When I bought a house in Normal heights in 1992 my mortgage broker got me a discounted rate from BofA. They had made an agreement to offer lower rates in zip codes where they had been proven to have record or redlining.
Anyway, as long as the houses are in areas that have been deeply discounted, I see this as a good thing for first time buyers and minorities. Lots of poor people and first time buyers have stepped on the property ladder quite successfully in busts.They are lucky because they are already used to the neighborhoods that are increasingly selling at deep discounts and have some advantages over investors, the other group that buys properties in marginal areas.

[NotCranky]

I wouldn’t be surprised if this is required by regulators or that CountryWide sees the writing on the wall and knows that it better get affirmative about making amends to first time buyers and minorities. Just guessing. When I bought a house in Normal heights in 1992 my mortgage broker got me a discounted rate from BofA. They had made an agreement to offer lower rates in zip codes where they had been proven to have record or redlining.
Anyway, as long as the houses are in areas that have been deeply discounted, I see this as a good thing for first time buyers and minorities. Lots of poor people and first time buyers have stepped on the property ladder quite successfully in busts.They are lucky because they are already used to the neighborhoods that are increasingly selling at deep discounts and have some advantages over investors, the other group that buys properties in marginal areas.

[NotCranky]

I wouldn’t be surprised if this is required by regulators or that CountryWide sees the writing on the wall and knows that it better get affirmative about making amends to first time buyers and minorities. Just guessing. When I bought a house in Normal heights in 1992 my mortgage broker got me a discounted rate from BofA. They had made an agreement to offer lower rates in zip codes where they had been proven to have record or redlining.
Anyway, as long as the houses are in areas that have been deeply discounted, I see this as a good thing for first time buyers and minorities. Lots of poor people and first time buyers have stepped on the property ladder quite successfully in busts.They are lucky because they are already used to the neighborhoods that are increasingly selling at deep discounts and have some advantages over investors, the other group that buys properties in marginal areas.

[NotCranky]

I wouldn’t be surprised if this is required by regulators or that CountryWide sees the writing on the wall and knows that it better get affirmative about making amends to first time buyers and minorities. Just guessing. When I bought a house in Normal heights in 1992 my mortgage broker got me a discounted rate from BofA. They had made an agreement to offer lower rates in zip codes where they had been proven to have record or redlining.
Anyway, as long as the houses are in areas that have been deeply discounted, I see this as a good thing for first time buyers and minorities. Lots of poor people and first time buyers have stepped on the property ladder quite successfully in busts.They are lucky because they are already used to the neighborhoods that are increasingly selling at deep discounts and have some advantages over investors, the other group that buys properties in marginal areas.

[PadreBrian]

Kind of smart on their part, they are trying to avoid the us fellow low-ballers (hahaha).

Wont really work, those two groups they are after have been sold to death for the last 3 years. By now they are all foreclosed out or credit shot.

[PadreBrian]

Kind of smart on their part, they are trying to avoid the us fellow low-ballers (hahaha).

Wont really work, those two groups they are after have been sold to death for the last 3 years. By now they are all foreclosed out or credit shot.

[PadreBrian]

Kind of smart on their part, they are trying to avoid the us fellow low-ballers (hahaha).

Wont really work, those two groups they are after have been sold to death for the last 3 years. By now they are all foreclosed out or credit shot.

[PadreBrian]

Kind of smart on their part, they are trying to avoid the us fellow low-ballers (hahaha).

Wont really work, those two groups they are after have been sold to death for the last 3 years. By now they are all foreclosed out or credit shot.

[Author]

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