Blog

  • 22 Jun

    Understanding the Lingo: What is an R.E.O.


    If you are old enough to remember the 1970s then the mention of R.E.O. might bring to mind the band R.E.O. Speedwagon.

    In the foreclosure business, an R.E.O. is a post-foreclosure property that has been sold at auction and is now owned by the lienholder.

    At this time, an investor can attempt to contact the lienholder to see if they are willing to sell the property. 

    Our exclusive Confirmation Report will provide you with the quickest access to the results of the auction allowing you to immediately begin reaching out to the lienholders who recently acquired the property. 

    The information in this report comes to you so quickly that sometimes the lienholder hasn’t even learned of the results from the auction yet! 

    Do note: Shortly after the property sells at auction, most lienholders will obtain the services of a local broker to attempt to sell the property on the open market for fair market value.

    And it is always OK to still hum "Can't Fight This Feeling" when you hear the term R.E.O. 
  • 22 Jun

    How We Became the First Foreclosure Reporting Service in Texas



    Foreclosure Information & Listing Service, Inc. is family owned and operated and was established in 1963. It was the first such foreclosure reporting service in Texas. 

    The company's founder was an aspiring real estate agent who discovered that if he monitored the foreclosure notices posted in the county he would have an advantage in listing the HUD foreclosures. 

    His friends and colleagues insisted that he should start a report of the foreclosure postings. Since it was so inconvenient for the public to physically go to the courthouse and review hundreds (and today thousands) of foreclosure notices he discovered that the demand for a comprehensive and user friendly format of the data could be readily satisfied in the form of what ultimately became Foreclosure Listing Service.

    The original owner and his wife began publishing the foreclosure list in Dallas with Houston to follow shortly in 1967.

    Today the expertise of FILS, Inc. is relied upon by many of Houston's major financial institutions, title companies, residential and commercial real estate firms, and most importantly Houston's real estate investor community. 

    Our 40+ years in the Texas foreclosure market has fostered exclusive relationships with the entities responsible for foreclosure transactions both judicially and non-judicially. These relationships are the basis for our timely, customized data that we provide to you, our client. 

    Through our solid reputation and quality service, we are able to meet the needs of the investment community by transforming the raw data into constantly updated, user-friendly reports investors use today. 

    Foreclosure Information & Listing Service, Inc. continues to be a family affair. The founder's daughter and her husband brought fresh ideas and their commitment to the Houston operation in 1982. 

    The business's family legacy continues to grow as the third generation commits to the same blueprint of growth and success.

    To learn more about your products, contact us today.

  • 13 Oct

    Tax & Mortgage Lists - Nov 1 Auction

    Over 1600 Mortgage & Tax delinquent properties across 6 counties are scheduled for the November 1 foreclosure auction. Look at these properties now!
  • 5 Oct

    Investors Acquired Over 8 Million in Equity Oct 4

    Investors acquired over 8 million in equity on the purchase of 297 properties at the October 4 Harris County Foreclosure Auction. See what's scheduled for the Nov 1 auction here!
  • 7 Sep

    Investors Acquired over 7 Million in Equity Sept 6

    Investors acquired approximately 7 million in equity on the purchase of 231 properties at the September 6 Harris County foreclosure auction. Begin viewing the October 4 auction list now!