All about Real Estate Owned (REO) � A Complete Guide
Kimpeteson113314 Dec, 2023Business
Real Estate Owned (REO) are the properties that many lending institutions repossessed after an unsuccessful foreclosure auction. These institutions generally include a mortgage lender or a bank. When a homeowner fails to make mortgage payments, the investor initiates the foreclosure process, leading to a foreclosure auction. If the property does not sell at auction, it becomes Real Estate Owned.
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