REO Properties

PROGRAMS

REO-header

REO Properties for Sale

Southwest Solutions is offering affordable, remodeled and move-in-ready homes in the metro Detroit area. These homes are specially priced to help families achieve the dream of homeownership and help neighborhoods stabilize and thrive.

About

Southwest Solutions has teamed with local partners to implement this initiative.  We acquire unoccupied houses that were bank-owned REO properties, undertake a complete rehab, then sell the homes at an economical price.

This initiative:

  • Helps families purchase homes with value and reliability
  • Preserves the quality of neighborhoods
  • Enhances the value of existing housing stock

The REO properties that Southwest Solutions acquires from banks are houses that have gone through foreclosure.  The longer these homes remain vacant and the more they fall into disrepair and are subject to vandalism. The foreclosure crisis has been fraying the fabric of neighborhoods and threatening that fabric to unravel.

The REO properties program is an important initiative to help prevent and reverse the devastating effects of the foreclosure  crisis.

RESULTS

Acquired, renovated and sold more than 400 REO single-family homes

That were vacant and are now owner-occupied

Through a partnership with Bank of America, Southwest Solutions will periodically donate a mortgage-fee to a veteran family
Sold outright 151 REO homes in 2014; leased 8 others; and sold 22 others on land contract

CONTACT:

For more information about the REO properties program, contact Steve Gabrys, Manager of Real Estate Development at Southwest Solutions, at 313.297.1330 or email.

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