Summary: This is the second lesson in a 3 part series on investing called “Investing In Distressed Real Estate”. On this podcast, we learn about another type of distressed seller – the seller who is about to go into foreclosure or who is already in foreclosure. We learn about the 3 different stages of foreclosure, the foreclosure process and how properties ultimately become bank owned properties when the bank buys them back at the auction. At that point they become REO's. Once they are at the REO which stands for Real Estate Owned stage then investors can purchase these properties. However all offers have to be cash only. Enjoy the podcast.
