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Bank-owned properties may also be referred to as real estate owned, or REO. You can find bank-owned properties through sources like banks' online listings or RealtyTrac.
It’s far easier to buy bank-owned REO properties. You can still often find decent deals on REO homes, especially if you build relationships with REO managers at local and regional banks.
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]
RealtyTrac is a real estate information company and an online marketplace for foreclosed and defaulted properties in the United States. It was founded in 1993 and is based in Santa Barbara, California. It publishes a monthly U.S. Foreclosure Market Report. [1] [2] [3]
Foreclosure properties, REO (Real Estate Owned) property owned by banks and other lenders, and properties threatened with imminent foreclosure all represent great investment opportunities for ...
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".
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