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preREO Launches New Platform for Real Estate Investors to Connect With New Opportunities

July 01, 2020 / Carolyn Huizar

preREO is excited to announce the launch of a new platform that connects real estate investors with new opportunities directly from lenders, maximizing the return on investment while improving the local community. A preREO is a delinquent first mortgage secured by a vacant property, typically a single-family home or condo. These vacant properties become a burden on lenders, incurring significant property preservation costs and often leaving local communities with the blight of abandoned and deteriorating homes. "preREO is a solution for lenders who are ill-equipped to maintain these homes from afar," said CEO Jorge Newbery. "We are delighted that, for the first time, community investors can use their local advantage to take control of these properties during the foreclosure process. preREO is a step-by-step program that can help solve the nationwide vacant home problem for lenders, communities and investors."