Real estate blog entries tagged with bank owned by Melissa Kiser, a next generation Realtor (Star Real Estate)

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Home : Blogs : Melissa Kiser, a next generation Realtor : Melissa's Blog : Tag "bank owned"

bank owned: Tips for consumers considering a bank REO - 04/14/08 01:41 PM

REO is an acronym for real estate owned and is industry jargon for foreclosure property repossessed by banks or lenders. If a bank or lender is the highest bidder at a foreclosure auction — or if no third party bids at the auction — the property reverts back to the lender and becomes an REO. REOs are owned by banks. Lenders go to great lengths to sell REOs. For banks, however, bank-owned homes are a liability. · First-time buyers will need to be pre-approved by one or more lenders.
· Don’t be surprised if the bank that owns the home requires that … (4 comments)

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Melissa Kiser, a next generation Realtor

Huntington Beach, CA

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Star Real Estate

Address: Huntington Beach, CA, 92648

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