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call (312) 800-1021

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HUD Homes and REO


Chicago FHA / HUD Attorney / REO Attorney

The money owed on a foreclosed property can be much more than the property is worth. Often such properties go unsold at a foreclosure auction, and the properties revert to the mortgage lenders. Such unsold foreclosures become REO, or real estate owned property.

Michael S. Fisher is one of the preeminent real estate attorneys in Chicago, with over 20 years of experience clearing title with foreclosure properties as an REO Closing attorney.

Buying an REO requires complex negotiation.  An offer on an REO sale should be written in a specific manner, and you should do careful research before deciding on an offer.  If your research shows that the asking price is too high, you might decide to make an offer that’s below the asking price, and include an explanation of your reasoning in your offer.   Given the complications of buying an REO property, you will benefit from hiring  an experienced real estate attorney like Michael Fisher.

A “HUD home” refers to a home purchased with an FHA loan that has since been foreclosed. When navigating the process of buying HUD homes, it is essential that you have someone who knows the process, because buying HUD homes is different than buying other kinds of foreclosed property. Make sure you have an attorney like Michael Fisher who is very experienced with HUD and will work with you to ensure that your transaction goes as smoothly as possible.

Email NOW for a FREE Consultation!

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Email NOW for a FREE Consultation!

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