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Online home auction sites — like Auction.com and HUDHomesUSA — allow you to filter by REO foreclosure, meaning you can find bank-owned properties relatively easily.
Buying a foreclosed home may seem to some like a scary process, but as was the case with Jackson and many others, it's similar to buying any other home, especially if your offer is on a bank-owned ...
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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]
With a more robust database of foreclosure data including notice of default (NOD), notice of trustee's sale (NTS) and bank-owned (REO) information in nearly 3,000 US counties, RealtyTrac secured its place in history as pioneers of online foreclosure information.
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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