Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

What is REO when it comes to real estate? It stands for real estate owned, and it’s a term you’ll see when a bank or lender takes ownership of a home after a failed foreclosure auction. When a ...

The volume of bank-owned foreclosed homes – known as REOs, or real-estate owned properties – is growing at an alarming rate, compounding the foreclosure crisis by sticking hard-hit neighborhoods with ...

Other Real Estate Owned is a bank accounting term that refers to real estate owned by a bank that is not directly related to ...

REOs are bank-owned properties not sold at foreclosure auctions and sold at discount. REOs arise when loan defaults lead to unsuccessful auction sales, necessitating direct sale. Buyers, particularly ...