Business & Economy
5:00 am
Thu July 5, 2012

Bankers List Foreclosed Properties

The down economy has brought with it a lot of foreclosed properties. The North Carolina Bankers Association has developed a website to help get this real estate sold. 

Leoneda Inge:  The new website is called REO Deed Wagon dot com. REOs are real estate owned properties owned by the lender, in this case, a bank.  Brandon Wright is a spokesman for the North Carolina Bankers Association.  He says their goal is to have as many as two thousand properties listed by the end of the year.

Brandon Wright:  In North Carolina we’re roughly at 230 properties listed on the site now, and we’ve only been up two months. So, we hope that number continues to rise and then continue to fall after it rises because we ultimately want the level of our REO inventory in the United States to come down.

Wright says other states have shown interest in REO Deed Wagon. The Nevada Bankers Association has already signed on.