preREO empowers real estate investors with the ability to acquire discounted non-performing mortgages directly from institutions. Historically, institutions have sold their non-performing loans to other institutions. The prospect of selling non-performing loans one-off or in small pools to real estate investors was too cumbersome because it would mean hundreds of contracts and closings. It’s not worth it for institutions.
preREO has created the ultimate solution by having loans sold into a trust with U.S. Bank Trust as the Trustee and then providing participation agreements to investors, who receive decision-making authority and economic benefits from the specific loan or loans which they acquire. Sellers face one institutional buyer, but individual real estate investors get the control and benefits. This structure also allows preREO to finance up to 75% of every loan sold.
Instead of buying REOs, real estate investors can now access even greater discounts buying preREOs. Our streamlined marketplace makes it easy for institutions to offer distressed mortgage notes to individuals just like you at a discounted rate. Not only can you get access to preREOs before traditional real estate investors, but you may also have unique opportunities to start collecting rent during the foreclosure process.
Trusted by 10,000+ investors, sellers and agents
Easily browse for discounted and distressed mortgages secured by a vacant property.
Bid, negotiate, and partner with preREO on the mortgage holder's interest in a property.
Maximize your returns during foreclosure, then build a rental portfolio or sell your REO.
Make an offer
Seller accepts or counters
Apply for Financing (if needed): We offer 75% financing on every preREO
preREO can complete for $500 (paid at closing) or do on your own
Sign participation finance agreement & wire in 25% down payment, program fee, and due diligence fee (if applicable)
Sign mortgage loan purchase agreement & wire in purchase price, program fee, and due diligence fee (if applicable)
AHP Servicing will service the loan
Activist Legal or America's Trustee Services will continue or start foreclosure (if needed)
You receive access to our nationwide database of discounted non-performing mortgages. You can make an offer directly on our site and, if your offer is accepted, finance up to 75% of the acquisition price.
You come up with a 25% down payment plus the Program fee! We have arranged for all loans to be serviced by AHP Servicing and legal support to be provided by Activist Legal and America’s Trustee Services.
Take control of your real estate investments by partnering with our knowledgeable team of professionals that can guide you every step of the way.
We connect you with experts that are familiar with the unique process of buying and selling preREOs along with the legal nuances that are involved with distressed mortgages. With our team’s expert guidance along with our robust marketplace, there has never been a better time to start profiting from preREOs.
Remember, purchasing distressed mortgages from institutional sellers was difficult, if not impossible, for real estate investors.
preREO has removed the barriers and provides real estate investors access to opportunities, capital, resources, and a compliant holding vehicle to earn money while improving communities. Now, you can support our allies who want to take control of distressed mortgages to improve communities.
Trusted by 10,000+ investors, sellers and agents
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