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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 ...
REO sale property in San Diego, California. 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]
Real estate owned (REO) properties offer the opportunity to purchase homes for attractive prices to home buyers who can navigate the specifics of how these properties come to market. REOs usually ...
Clayton Homes (or Clayton) is the largest builder of manufactured housing and modular homes in the United States. [1] [2] It is a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway. [3] Clayton Homes' corporate headquarters are in Maryville, Tennessee. [4]
With more and more "distressed" (foreclosed) homes up for sale, a bank-owned home may be the way to go if you are considering buying a house. But experts say buying from a bank is very different ...
When the remaining mortgage balance is higher than the actual home value, the foreclosing party is unlikely to attract auction bids at this price level. 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 ...