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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]
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. ... many more bank-owned homes will ...
James Odell Barnes Jr. (aka Odell Barnes) has earned the nickname "Foreclosure King." His firm, Odell Barnes REO , is a bulk-buyer of foreclosed homes in the United States. [ 1 ] For decades, Barnes has been buying foreclosed homes in bulk from banks and other mortgage -lenders and selling them to a network of private investors and directly to ...
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".