CitiMortgage, headquartered in St. Louis, Missouri, is a member of Citigroup and is primarily engaged in residential mortgage financing. The current crisis in the mortgage industry is deepening due to significant amount of payment defaults and resultant foreclosures. Most of the homes don’t receive favorable bids at the foreclosure auction and this forces the lender to take possession of the property. This vicious cycle is contributing to the significant growth in the inventory of REOs at major lenders. As the mortgage crisis deepens further, the REO numbers are expected to increase even more dramatically in the near future.

Real Estate Investors with a keen understanding of their respective real estate markets can browse through the REO Listings at various lenders and find great bargains. Lenders are motivated to make a deal when it comes to REOs as they are a generally considered to be a drain on their resources. Moreover, in a real estate climate with declining property prices, lenders are compelled to make a deal and dispose of their REO holdings at the earliest. This situation tips the balance towards the buyers/investors and it allows them to make deals that are highly favorable to their bottom line.

Click to search Citi Mortgage REO Listings.