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Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
Bank-owned properties may also be referred to as real estate owned or REO homes, REO properties or simply REO. You might see a property listed with details like REO foreclosure, meaning a ...
An REO or Real Estate Owned property is a home that s been through the foreclosure process and is now held by the lending institution. When borrowers default on their monthly mortgage payments ...
A house that has gone through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate owned). In these situations, the owner/servicer tries to sell it through standard real estate channels.
real estate owned (REO) properties [1] pending foreclosures [4] or foreclosured properties [1] short sales [1] an addition or a cross-check to an appraisal; home equity loans [1] or a home equity line of credit [1] of less than $250,000 [citation needed] refinancing [4] appeal to cancel lender's mortgage insurance (LMI or PMI) [1]
What is an REO? REO stands for Real Estate Owned. It is actually short for Other Real Estate Owned (OREO), but that may have been too confusing with the cookie. Unfortunately, ...
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