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2. Bank-owned properties: What are they and where can I ... - AOL

   www.aol.com/finance/bank-owned-properties-where...

   Key takeaways. Homes become bank-owned properties after homeowners default on their mortgages and the bank forecloses. If no one opts to buy a foreclosure home at auction, the bank or mortgage ...

3. Is It Smart to Buy a Foreclosed Home? Weighing the Pros ... - AOL

   www.aol.com/lifestyle/smart-buy-foreclosed-home...

   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.

4. How to Buy Bank Owned Property - AOL

   www.aol.com/news/2008-08-04-how-to-buy-bank...

   Buying bank owned property can time consuming and it pays to do a lot of research into the property and the neighborhood, but the savings can be considerable. More and more home buyers are looking ...

5. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   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]

6. Bank walkaway - Wikipedia

   en.wikipedia.org/wiki/Bank_walkaway

   The primary reason for bank walkaways is that a bank expects to lose money by foreclosing – when proceeds from a foreclosure sale are expected to be insufficient to cover the cost of the foreclosure itself, together with securing, maintaining, and marketing the home for sale. Thus, if the bank were to foreclose (taking ownership) and then ...

7. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   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 ...