eBay acquires HomesDirect, online auction site of foreclosed properties
EBay Inc. has acquired HomesDirect, a web-based provider of real estate foreclosure-related auction services.
HomesDirect operates an online marketplace for the buying and selling of foreclosed properties. In 2000, it was responsible for the sale of over 116,000 homes, all on the Internet and all via auction. It has contracts to auction all of the Housing & Urban Development foreclosure properties and the majority of Veterans Administration properties, and recently created relationships with Chase Manhattan Mortgage Corporation, Option One Mortgage Corporation and Bank of America`s Equicredit division.
HomesDirect will continue to operate under its current name and its web site will remain at www.homesdirect.com. EBay will add a foreclosures link within its real estate category that will direct consumers, agents and brokers to the HomesDirect offering.
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