foreclosure process

Foreclosures

Benefits of Buying a Bank Owned Property (REO)

by Troy Schuricht | April 3, 2008

REO stands for real estate owned. This term is used when referring to a home that has gone through the foreclosure process, failed to find a buyer at the auction, and is now owned by the bank. One of the benefits of buying a bank-owned REO property is that investors can purchase the home free [...]

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