Another example of how the REO business is working.
This took 5+ months to get to market (it was assigned to us on March 11th), and it still doesn’t look very appealing.
If the banks were taking a while because they were spending the right money to fix them up to sell for retail price, it might be understandable. Or if they were watching the calendar, and pushing to get the cheesey ones on the market during the summer selling season, it would be smart too.
But we didn’t get either: