PREO Marketplace

PREO was created by real estate, foreclosure and bankruptcy attorney James E. Albertelli, Esq. to be the complete default marketplace. Over 15 years of representing lenders and servicers in judicial and non-judicial states, Mr. Albertelli obtained a wealth of knowledge about the shortcomings of the traditional methods of foreclosing and selling property. He sought to design a better way to increase the ROI or the NPV of cash received from the REO process and at the same time help the current defaulting homeowner to gain meaningful relief. Out of those concerns, PREO was born. • PREO turns distressed properties back into family homes and serves everyone participating in the housing market. • LENDERS & SERVICERS: PREO is a more effective way to market underwater, foreclosed and bank owned homes because it harnesses the power of a national marketplace to build traffic and maximize property value. PREO is a seamless, customizable over-lay to your current process, works with your current network and increases operational efficiencies with the infrastructure already in place. Participating lenders include One West, Wells Fargo, Fannie Mae and Chase. • BUYERS: PREO is a consumer friendly, functional marketplace where you can search for and buy property. Every property has a minimum acceptable bid set by the lender. On PREO it is possible to go from offer to closing as quickly as 45 days. PREO has all the tools you need for your due diligence and to bid with confidence • REALTORS: Real estate professionals play an essential role in PREO by facilitating contracts for buyers and sellers. We pay commission on both sides. PREO provides a convenient electronic platform for submitting and tracking all your and your client’s documentation. And because the lender sets the minimum bid, your seller is able to get relief faster. PREO maximizes exposure of your listings with Google, Yahoo and MSN as well as direct advertising. • HOMEOWNERS: PREO brings you and lender together to find meaningful mortgage relief. Through PREO you will learn your options and find the right solution. If that turns out to be a short sale, PREO helps to carry it out quickly and easily so you can get a fresh start.

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