Foreclosure.com, IndyMac Form REO Alliance

Foreclosure.com, Boca Raton, Fla., has announced the formation of a partnership with IndyMac Bank to market and facilitate the sale of thousands of real-estate-owned properties via the Internet.Foreclosure.com said it maintains a nationwide database of more than 1.2 million listings that includes foreclosures, preforeclosures, bankruptcies, for-sale-by-owner homes, and tax liens. Potential homeowners can view the REO listings and foreclosed properties owned by IndyMac Bank online and set appointments with listing agents/brokers to view the properties. "Our research indicates that only 17% of a traditional real estate marketing budget is spent online," said Brad Geisen, Foreclosure.com's founder, president, and chief executive officer. "That means sellers are spending 83% of their marketing dollars chasing only 20% of the buyers. Put simply, times are changing, and the practices of lenders and others involved in the sale of real estate need to change along with it." The companies can be found online at http://www.foreclosure.com and http://www.indymacbank.com.