In case you’re not familiar with the term, REO stands for Real Estate Owned. This is property which has reverted into the hands of a lender; this is almost invariably a bank, credit union or other financial institution following an unsuccessful attempt to sell the property at a foreclosure auction. The banks or lenders then attempt to sell these properties as quickly as possible, since as far as their ledgers are concerned, foreclosed property is a liability, not an asset. Of course, banks aren’t in the real estate business in the first place, so it’s in their best interests to rid themselves of this property.

OK, So What’s Bulk REO Property?

Larger financial institutions especially are often left with a large number of REO properties on their hands, especially now in the wake of the credit crunch and the waves of foreclosures which preceded it. Banks are eager to pass on these properties to buyers, often selling them for greatly discounted prices. Where the idea of bulk property comes into the picture is when real estate brokers and investors will make offers to these institutions to purchase several properties at once for an even lower price.

Why Is Bulk REO Property A Good Investment
?

Since the banks need to get rid of these bad investments to get them off of their books and since the housing market is still somewhat soft, there are some excellent values to be had for the forward looking investor or investors who are interested in making a rental income off of these bulk REO properties. Of course, given the very low prices at which these properties can be purchased in bulk, investors can still make a tidy sum by selling these homes even as-is; many REO properties tend to be in need of a little fixing up, but at their price they’re still most often a great bargain.

Are Bulk REOs Something Which Newcomers To Property Investment Should Involve Themselves With?

The answer I usually give to this question (which I’m asked quite a bit) is no – unless these investors are looking to make money. Bulk REOs represent an incredible investment opportunity and there are quite a few novice real estate investors who are already making a substantial amount of money from these investments; and others who are holding on to these properties, waiting for market conditions to improve before selling for even larger profits. Whether you’re an old hand at real estate or you’ve never purchased an investment property before, bulk REOs are something which you should at least consider investing in.

So How Do I Find These Bulk REO Properties For Sale?

That’s often the most challenging question, especially for people who aren’t experienced in the real estate market. There are several ways to go about it, most involving a lot of research. The important thing to remember about real estate investment, whether we’re talking about newly built commercial property or bulk REOs is this – it’s a numbers game. If there was one thing I want people to take away from this article it’s that.

You need to make lots of offers and deal with lots of different banks and other lenders, brokers or asset management personnel and do some investigating to identify properties which interest you. Especially if you’re new to property investments, you may be better off dealing with a reputable broker who has contacts with lender asset managers and is experienced in handling bulk REO purchases. Just do a little research ahead of time to make sure you’re doing business with someone who’s going to make sure that you’re treated fairly in this transaction – other than that, I hope I’ve answered some of your questions about bulk REO investments and I wish you the best of luck and profitable investing!
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Grants are available for various causes. Individuals and families might find grants to help with student loans, medical bills, and mortgage/foreclosure assistance. These grant programs are not entirely altruistic. When a large portion of the country is riddled with personal debt, individual discretionary spending lessens. Less money spent by the average citizen causes demand for goods and services to diminish. When demand lessens, the economy depresses. The government prefers to ensure that Americans have enough money to spend to keep the economy stimulated.

It’s getting a hold of this grant money that is tricky. Simply filling out a form to receive a check that will magically pay off all of your bills is not realistic. The only time that remotely happens is when a tax rebate is issued. Instead, the government prefers to issue grants to private, non-profit, and government institutions to provide debt relief to Americans. Paying careful attention to where the grant money is awarded will help you ascertain where debt relief can be obtained.

The best place to monitor the money trail is on the government grant web site or the web site for the Catalog for Domestic Assistance. Both sites list what grants are available and provide information on who is eligible and how to obtain the funds.

While there aren’t any grants aimed at paying off credit cards and unsecured loans as of yet, this could change. Grant availability changes with the whims of the government, so monitor the government web sites regularly.
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The best way to go about attaining auto insurance is to shop around. An easy way to do this is to go online. You can literally get 15 car insurance quotes in about 30 minutes to an hour. Not bad considering it could save you big money. As a general rule, I would shy away from those sites that offer getting insurance rates by the boat load. As an automobile owner, I want to make sure my car is being insured by a reputable company. Many of those sites that offer many quotes at once will turn up companies you and I have never heard of, making it very sketchy on if they would actually be able to cover costs if I were ever to get into an accident. The best way to make sure a company is reputable is by doing some general research. You will know in about 5 minutes if a certain insurance carrier would be the type of company you would trust to do business with.

What Will the Insurance Companies be Looking For?

It is definitely standard and required that an insurance company pulls your driving record. This gives a very good and accurate snapshot on your abilities as a driver. If you have a clean driving record, you will get the best rate available. If you have a severely marred record including accidents, speeding tickets and violations, you will get a very high premium.

Some insurance companies will pull your credit report. Although this is not customary, some pull it. There reason for pulling a credit report is to ensure that you, as a policy holder, will be able to pay your premiums. Not only that, but it also gives another snapshot on the type of person you are regarding actions. A person with good credit will generally be assumed as a responsible person. Someone with many late payments on their records or collections would be viewed as someone irresponsible.

Another requirement they will be looking for is that you are properly registered legally. They check to see if your car is registered. If your car is not registered, you will not be insured. Along with this, they will want to observe your car and note any marks, problems or cosmetic defect to your car prior to insuring.

How Can I Get the best Premium Possible?

There are many things you can do to get a good premium and get the most out of your discounts. You need to be aware of all the discounts you are eligible for before going into the insurance company’s office. They are not required to offer you all discounts that you are not aware of. These are just some of the discounts available:

1. Discount for taking a driver improvement course. This can be one taken in school as a teen, online, or at your local DMV.

2. Military Discount: This is for current and retired military personnel.

3. Good grades discount. This is a discount provided to those students who maintain a B average or above. This discount is offered to college students also.

4. Safety features discount. Yes, you get additional discounts for safety features outside the regulated safety features.

5. Ask for a higher deductible amount.

6. Discounts from AAA (or similar) auto club.

7. Discounts for being 55 and above.

8. Safe Driver discounts

9. Insure your home and auto insurance together to get a multi rate discount.

10.Make sure you need all the insurances in your policy

The 0.5% increase in retail sales reported Thursday by the Commerce Department was smaller than expected. Economists surveyed by Dow Jones Newswires forecast a 0.6% increase.

Several categories of retailers tumbled last month. The increases tended to be among sellers of essential items, such as food and clothes.

Filling station sales rose 3.6%. Excluding gasoline sales, other retailers’ sales increased 0.2%. Gas prices have gone up about 28% in the past six weeks, driving station receipts.

Overall retail sales in April were revised higher, decreasing 0.2% instead of 0.4% as previously reported. March sales fell 1.2% instead of 1.3%.

Ford reports a 24% decline in U.S. sales for May, but the auto maker still posts its highest monthly sales since last June. Ford plans to take advantage of the competitors’ woes, announcing a 10,000-vehicle increase in 2Q production.

US STOCKS FLAT ON HOUSING DATA

U.S. stocks trade flat, seesawing between gains and losses, after a report
shows pending sales of existing homes in April posted their largest monthly
increase in eight years. Financial stocks trail the broader market as blue-chip firms announced plans to raise fresh capital. Treasury prices stabilize.

US PENDING HOME SALES CLIMB 6.7% IN APRIL

Index of pending sales of previously owned homes increases for a third month
in a row, the National Association of Realtors says, rising 6.7% in April to
90.3, as buyers seized on foreclosure-cheapened property, low interest rates
and a tax credit.

AMERICAN EXPRESS, JPMORGAN PRICE STOCK DEALS

JPMorgan sells 142 million shares at $35.25 a share, raising $5 billion.
American Express sells a 19.8 million-share deal, priced at $25.25 a share,
raising $500 million. Deals done in preparation to exit the federal bailout
program. JPMorgan shares fall 4%; American Express is down 6%.

GM SELLING HUMMER TO PRIVATELY OWNED CHINA CO

GM reaches a preliminary agreement to sell its Hummer brand to Sichuan
Tengzhong Heavy Industrial Machinery, the New York Times reports, citing a
person familiar with the Chinese government’s approval process.

BOFA TO ‘COMFORTABLY’ TOP CAPITAL-RAISE TARGET

Bank of America says it will “comfortably” exceed the government’s $33.9
billion capital-raising mandate, with the company putting its current total at
$33 billion. Shares rise 1%.

TEMASEK, RICHARD LI JOIN BID FOR AIG INVESTMENTS

Singapore’s Temasek Holdings and Richard Li’s Pacific Century Group are among
the financial backers considering entering exclusive negotiations to buy
American International Group’s asset-management business, which could go for
$500 million.

BRAZILIAN AIR FORCE FINDS PLANE DEBRIS

Brazilian air force aircraft searching for a missing Air France flight that
had been carrying 228 people have found debris from a plane. The “small
remains” were located 400 miles northeast of Brazil’s Fernando do Noronha
island.

COLLECTIONS FIRMS TO END DECEPTIVE PRACTICES

Creditors Interchange Receivable Management LLC, Capital Management Services
LP and Tri-Financial LLC agree to change their business practices after a probe
by NY Attorney General Andrew Cuomo’s office.

MOODY’S: OUTLOOK STILL NEGATIVE FOR US BANKS

Moody’s Investors Services says its outlook for credit ratings on the U.S.
banking sector remains negative as the recession is expected to lead to $470
billion in loan and investment losses and write-downs this year and next.

CHRYSLER SALE APPEAL TO BE HEARD BY 2ND CIRCUIT

Bankruptcy judge Arthur Gonzalez in Manhattan certifies the sale of the bulk
of Chrysler’s assets to a group led by Fiat, paving the way for a challenge of
the sale order to be heard by the U.S. Second Circuit Court of Appeals,
skipping the usual review by a U.S. district judge.

US LAWMAKERS WANT TO SHINE MORE LIGHT ON FED

The Federal Reserve’s longtime penchant for opacity is coming under fire from
lawmakers demanding to know more about the central bank’s role in the U.S.
government’s response to the financial crisis.

MORGAN STANLEY TO RAISE $2.2B IN BID TO EXIT TARP

Morgan Stanley plans a $2.2 billion stock offering, a deal that is expected
to include China Investment and Mitsubishi UFJ Financial Group, as it prepares
to repay taxpayer money it received under the government’s Troubled Asset
Relief Program. Shares fall 4%.

SEC HEAD VOWS TO IMPROVE AGENCY OPERATIONS

SEC Chairman Mary Schapiro tells U.S. lawmakers she’s “disappointed” to learn
of short-comings in the agency’s internal operations and she plans to hire a
chief operating officer and improve records management.

PIMCO FILES FOR SIX MORE ETFS

In another sign it hopes to make a big mark on the ETF business, Pimco files
to launch six new ETFs. Move comes the same day Pimco’s first ETF, a short-term
Treasury fund, begins trading among investors on NYSE Arca.

GEITHNER PLAYS UP CONSENSUS BETWEEN CHINA, US

U.S. Treasury Secretary Timothy Geithner says he believes Chinese leaders
understand U.S. measures to tackle the financial crisis and are confident in
the U.S. economy, while he in turn praises China’s own stimulus measures.

TOBACCO REGULATION BILL ADVANCES IN SENATE

The U.S. Senate takes a step forward toward debate of a bill that would give
the Food and Drug Administration authority to regulate tobacco, as senators
show strong support for the measure in a procedural vote.

HURRICANE SEASON TO BE SLIGHTLY BELOW AVERAGE

Colorado State University forecasters are trimming their forecast for what
they expect to be a “slightly below average” 2009 Atlantic hurricane season.
They predict 11 named storms, with five hurricanes, two of which will be
intense.

CFTC ASKS LAWMAKERS FOR BIGGER BUDGET

The head of the U.S. Commodity Futures Trading Commission tells federal
lawmakers that President Barack Obama’s recent request to increase the CFTC’s
budget by $14.6 million may still not be enough to meet the agency’s needs.

COURT OKS US CANCELLATION OF FIGHTER JET DEAL

Federal appeals court rules the government was justified in canceling a
contract with a Boeing unit and General Dynamics to build a new Navy stealth
fighter. Then-Secretary of Defense Dick Cheney terminated the contract in 1991.

MINNESOTA GOVERNOR WON’T SEEK 3RD TERM, REPORT SAYS

Minnesota Gov. Tim Pawlenty, a Republican, will not run for a third term in
the 2010 election, Twin Cities television station WCCO reports, citing sources.
Pawlenty is expected to make the announcement Tuesday afternoon.

======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======

AL’S EMPORIUM
Let Fingers Do The Walking Into Bankruptcy

Al Lewis takes a look at the Chapter 11 bankruptcy of Yellow Pages publisher
R. H. Donnelley and considers how much was due to economic factors,
acquisitions and the leadership of CEO Dave Swanson.

MARK TO MARKET
Playing Footsie With Uncle Sam Has Its Price

Polonius warned his son Laertes in Shakespeare’s “Hamlet”: “Neither a
borrower nor a lender be.” Why not, you ask? A borrower gives the lender power
over him; the lender gives the borrower power over him.

============ U.S. MARKETS ACTION ===========
DJIA up 20.69 points to 8742.13
NASDAQ up 7.01 points to 1835.69
S&P 500 up 1.89 points to 944.76
10-year T-note 95 10/32 at 3.690 yield dn .024
NYMEX Crude up $0.05 at $ 68.63/bbl
Euro/Dollar up 0.0148 at 1.4308

“GM Argentina is a legally distinct entity, and is economically and
financially solvent thanks to our healthy balance in the region,” GM Argentina said in a statement posted online.

GM’s Latin American operations, including its business in Brazil, appear to be one of the few bright spots for the U.S. automobile maker.

GM Argentina President Edgar Lourencon told local media Monday that the company’s operations in Argentina and Brazil accounted for 60% of the $1.3 billion in profit generated by the company’s Latin American units last year.

“GM Argentina maintains its commitment to invest in the country, developing a new compact regional model in our Rosario industrial plant whose production will begin towards the end of 2009,” the company said.

In 2007, then GM Chief Executive Rick Wagoner announced plans to invest $500 million in Latin America. The plan called for investing $400 million to develop the new product line, which would be sold in Latin America and exported to other emerging market countries.

The investment was to be divided between GM’s Rosario plant in Argentina and the Sao Caetano do Sul plant in Brazil, with each plant receiving about $200 million to modify and expand production lines for the new vehicle.

Lourencon said Monday that GM will receive fresh funds from the Argentine government to help carry out the originally announced plan for the Rosario plant.

Argentine President Cristina Fernandez is expected to announce that the government will provide around $55 million in funding to help GM develop a new small vehicle.

Multiple media outlets have reported that Italy’s Fiat SpA (FIATY) has
offered to take over GM operations both here and in Brazil. A pokesperson for GM Argentina declined to comment about such an offer and Fiat Argentina couldn’t be reached for comment.

Despite GM Argentina’s strength relative to its parent, the company has suffered from Argentina’s economic slowdown and a sharp decline in demand for new cars.

Argentina’s auto sales fell 29.17% in April compared with the same month a year ago, according to the car dealership association Acara. April’s decline was more than triple the annual decline seen in March, when sales fell 8.7%.

Meanwhile, Argentina produced 37,262 cars in April, down 31.8% on the year, according to the automotive manufacturers association, or Adefa.

The 100-member parliament approved the budget amendments in the first reading with 68 votes for and 10 votes against, and the proposal will now face a second reading June 17.

The preliminary approval by lawmakers comes amid increasing speculation that the recession-hit Baltic nation will need to break free from its currency peg to the euro and devalue the lat as debt soars. The economy is forecast to contract by 18% this year, the fastest rate in the European Union.

International lenders agreed to an International Monetary Fund-led EUR7.5 billion rescue package in December, conditional on limiting public-sector expenditure to 5% of GDP.

Prime Minister Valdis Dombrovskis said that adoption of the budget amendments in the first reading was only the first step, and the government would keep working in the proposals for further reduction of expenditures, BNS reported.

Earlier Thursday, a spokeswoman from the IMF said Latvia’s government is making progress in addressing its escalating budget deficit, but more steps must be taken.

“The government’s budget is a first step, and there is more work to be done,” said Caroline Atkinson, the IMF’s director of external relations.

The IMF and EU have missions in the country reviewing the economic program, and Dombrovskis has said the country needs the second portion of the loan by early next week.

Latvia’s central bank has said it will maintain the stability of the national currency until it can adopt the euro.