What is the difference between a foreclosure and REO - 01/05/09 01:28 PM
This question comes up quite often these days - "What is the difference between a foreclosure property and REO (real estate owned)?
A foreclosure is a legal process in which, against the wishes of the owner, real property is sold to satisfy a public or private debt for which the real property has been pledged as security.
Real Estate Owned (REO) is real property that has been foreclosed by a lender and is now owned by the lender.
There's a lot of confusion between a foreclosure and REOs. When real estate buyers call me asking about foreclosures in most instances, they … (8 comments)

 
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Pasadena CA Real Estate - Irina Netchaev

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