4
Apr
What Does REO Really Stand For- Opportunity To Make Money
by Derek Weeks - Denver RealtorPublished in: Investing in Real Estate
REO literally stands for Real Estate Owned. This means that it is a house or a property that is owned by a bank, usually after it has been unsuccessfully sold at a foreclosure auction. This is more common than not since the property values are often less than what is being asked for by the bank, with loan balances, interest, and fees, and so the property is then owned by the bank. It might be a lucky opportunity for investors, depending on the property.