what is REOs
2007-08-15 13:37:18 · 6 answers · asked by Lonnie P 1 in Business & Finance ➔ Renting & Real Estate
Owned by a bank.
2007-08-15 13:39:51 · answer #1 · answered by Landlord 7 · 0⤊ 0⤋
REO = Real Estate Owned.
This refers to the division of the bank that owns properties that are either given back to the bank by the borrower, or properties that it owns from a foreclosure sale.
Hope this helps...
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2007-08-16 00:03:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
REO = Real Estate Owned
It references those properties that banks/mortgage lenders had to take back at auction, when the original homeowner defaulted on their home loan.
Once a bank takes back a property, which occurs typically when the lender can't sell the house/condo/whatever at a public auction, for the price they want.
Once this happens, then whatever 'realtor' that particular bank uses then gets the listing(s) and are then marketed on the MLS (Mutliple Listing Service) as "REO" and good deals can be found on these types of properties if you do your homework.
Hope this helps answer your question?
RME, Jr
2007-08-15 20:44:23 · answer #3 · answered by raymejr 2 · 2⤊ 1⤋
Real Estate Owner - the institution who actually owns the property because of making the loan .
(until the loan is paid )
2007-08-15 20:43:52 · answer #4 · answered by kate 7 · 0⤊ 0⤋
R.eal E.state O.wned
Taken back by the bank in foreclosure.
2007-08-15 20:44:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Real Estate Owned.....
2007-08-15 21:54:51 · answer #6 · answered by WeLoan.Us 2 · 0⤊ 0⤋