reo: What is the difference between an REO Property and a Bank Foreclosure? - 05/05/08 03:48 AM
Q1.  What is an REO?
A. An  "REO" is an acronym for "real estate owned" by banks.  A bank owns the property instead of individuals.  Once a property is foreclosed upon, the bank typically acquires title to its REO properties. 
Q 2.  What is the difference between an REO sale and bank foreclosure sale?
A. Once a homeowner neglected to pay a mortgage loan, the bank sells that property at a foreclosure sale, usually at an auction.  An REO sale, on the other hand, is the sale of property owned by a bank. An Example: Let's say, Suzie Homeowner has a mortgage loan … (3 comments)

 
Kathy Dyer, Roseville Listing, Buyer & Relocation Specialist

Kathy Dyer

Roseville Listing, Buyer & Relocation Specialist

Roseville, CA

More about me…

Address: Keller Williams Realty, 548 Gibson Dr Suite 200, Roseville, CA, 95678

Mobile: (916) 759-2147



Enter your email address for future articles:

Delivered by FeedBurner





_uacct = "UA-6029813-1"; urchinTracker();


activerain.com/ blogs/hometeamgirls


Links

Archives

RSS 2.0 Feed for this blog