Posted in REOs

WHAT ARE REOs?

WHAT ARE REOs? REO (“Real Estate Owned”) is a banking industry term that refers to property that has reverted back to the ownership of the lending bank, typically through the foreclosure process.  This is problematic to banks because they are not in the business of owning houses, but rather of lending money.  The lender is […]

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Posted in REOs

Buying REOs

Buying REOs REOs are properties that have been foreclosed on by the lender and the properties are now owned by the lender.  The lender doesn’t want these houses and in some cases they don’t want to take them off their books because of cash reserve issues.  You see, banks are able to lend money based […]

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