Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

What is REO when it comes to real estate? It stands for real estate owned, and it’s a term you’ll see when a bank or lender takes ownership of a home after a failed foreclosure auction. When a ...

With over four years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed decisions as ...