tracking down REO property

I was in the neighborhood of an upcoming foreclosure and was having a hard time pinning down the exact house. I saw a bunch of post-it notes on a door and thought I may have found the place. It did look a little run down for the neighborhood, so I walked up to see what was on the post-its. Well, to my surprise, it was the wrong house (which ended up being two doors down), but the post-its were all about the house being winterized!

Well, I looked up the property info and indeed it did foreclose back in november. The thing is that I can’t seem to find anyone listing the property. The local MLS doesn’t have it listed and nobody is actually in the house. The bank that took it over was “Deutsche National Trust Company”.

I’ve never tried to call directly one of these companies and I can’t even find their contact info. Do I contact their loss mitigation dept or should they have a REO officer?

Yes and Yes,
They will have both Depts. and if you call either dept it will still take a half dozen phone transfers to find the property. But don’t give up and good luck,

It appears that this “Deutsche National Trust Company”, is the trustee company that ameriquest mortgages uses. I noticed this in the records where ameriquest signed over property/foreclosure rights to Deutsche. At first I thought they might have sold the loan or something, but it all seems to be too close together.

I’ve contacted ameriquest now to see if I can talk to someone in their REO dept. Interesting that I have to request one of them to call me through their correspondence dept and can’t simply be transfered to them.

Welcome to working with large banks, it can be a real pain to get anywhere. Good luck!

Glad to hear others are having these struggles and that I’m not the only one. It seems like the banks that get these properties back have such a machine-like protocal to deal with them. It’s almost like it’s not even worth their time and money to interrupt the “machine” to save themselves a few thousand dollars by dealing with us. What do they plan on doing with all these properties?

The one I’m trying to deal on was taken back by EMC Mortgage. During the redemption period I discovered the redemption amount was $204k. This house was vacated with lots of cleanup and repairs to do. I could pretty easily spend 30k on the house to bring it up to the level of the area homes. Even then it’s only worth $215k. I’m very interested in seeing what they eventually list it at…

Ameriquest actually outsources to AMC for their reo and foreclosure servicing. If you need contact number for reo, foreclosure, or shortsale department email me privately. I have done a few short sales with them.