REO Sale and REO Purchase Program

Indymac Bank is providing financial assistance to an owner-occupied home buyer who purchases an Indymac Bank property. Because Prospect Mortgage is Indymac Bank’s National lender for REO purchases the financial assistance is available only if a REO home buyer uses Prospect Mortgage for an FHA or VA loan.

Indymac Bank will provide up to six (6) percent of the sales price to assist with reducing the interest rate and/or paying funds towards closing costs. For example, if a REO home buyer were to buy a $400,000 foreclosure, the REO home buyer would receive up to $24,000 to either lower the interest rate significantly, pay closing costs, or a combination of both.

Contact Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert to set up an appointment to preview properties owned by Indymac Bank. Again, Prospect Mortgage must provide the loan and it must be an owner occupied FHA or VA loan. 408-972-1822


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