Wilshire Credit Corporation (Loan Servicer) REOs
Wilshire Credit Corporation is a loan servicer that handles mortgage payments for banks and other financial institutions. After browsing through the website going through various links, I believe they are affiliated with the Merrill Lynch Investment brokerage. I found this by finding a link that goes to some home buying tools that is branded by Merrill Lynch.
The REO property search is pretty basic with a map of the US that you can click on the select a state. One nice feature is that when you select a state is automatically populates all the cities that has REO listings at that time. I have only seen residential listings at this time but I am not sure if they offer commercial real estate also. It might be worth a quick call to inquire. One quick note, you need to allow pop-up windows to see REO listings.
REO Info:
REO (Real Estate Owned) is residential property, which is owned by a lender or bank. It is usually acquired through a foreclosure. The property is then listed by a real estate professional and marketed through their local and national MLS (Multiple Listing Service) and websites such as www.Realtor.com REO properties are generally sold in as-is condition and, as a result the pricing might be more attractive for someone wanting to invest sweat equity or as an investment. However, many of our properties are in “move-in” condition.
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