Mortgage fraud has never been more prolific than it is today. According to a report issued in March by the Mortgage Asset Research Institute (MARI) and the Mortgage Bankers Association, is at its highest percentage ever, with Colorado being ranked in the top 10 of the MARI Fraud Index.

REO literally stands for Real Estate Owned. This means that it is a house or a property that is owned by a bank, usually after it has been unsuccessfully sold at a foreclosure auction. This is more common than not since the property values are often less than what is being asked for by the bank, with loan balances, interest, and fees, and so the property is then owned by the bank. It might be a lucky opportunity for investors, depending on the property.

Conventional wisdom is that the currently real estate market is heavily in favor of the Buyer and that it is not the time to sell. However, now is the best time to sell your home if you are in a tough situation and want to avoid foreclosure. When a lender forecloses on a property, they [...]