Foreclosure Trash-Out Specialist, Frank Patrick, On The New Recession And REO Properties

Frank Patrick, REO Foreclosure and Property Preservation Specialist, discusses how the new recession could cause a rise in REO Properties.

Scottsdale, Ariz. – August 25, 2010 – According to a recent article by Frank Patrick, foreclosure trash-out and reo specialist, a new economic downturn could create more foreclosures than ever before. Frank explains how the housing market will be experiencing an increased amount of REO foreclosures, on top of the already massive number that are already on the market.

In the article published on, called “REO Listings: New Recession To Spur More REO Properties?” Frank explains that “for every home loan situation that’s improving, two are getting worse – with a total of over 7 million distressed loans currently held by banks.”

Frank writes, “More and more REO professionals will continue to be in demand to handle these specialized property transactions in the months to come, as they have been since the housing bubble first burst a few years ago. Already REO properties are in great demand because of the great value they present to the average homebuyer.”

“Training to become an REO agent and learning how to get REO listings will be an excellent career choice as joblessness continues to plague the country,” continued Frank.

The entire article can be found at

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (, the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

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Posted Under: ASREOS, Frank Patrick