Industry professionals upbeat at foreclosure conference

Despite the recession, real estate agents and property managers who attended the spring Reomac conference were unusually cheerful, the New York Times reported. The reason: Reomac serves the mortgage default industry, and its members specialize in bank-owned and foreclosed properties, of which there are now as many as 700,000 on the market nationally, so they are among those profiting from the recession. Convention attendees learned about how to deal with the particular problems plaguing vacant properties, such as finding a vacant home with abandoned pets.