borrower: What is REO?
- 05/07/08 04:23 PM
What is REO? Here's one for the longtail and a sort of WIKI entry to my BLOG!!!In any business it is hard not to slip into the industry vernacular and forget that our audience may not really be following. REO is an acronym for Real Estate Owned. Here in Simi Valley and Moorpark an REO property falls under the California process of foreclosure. California is a Trust Deed state. The term mortgage is a more universal term like Kleenex or Xerox for Californians. When a person borrows money against a property the Loan is made and secured against the property with an … (2 comments)
What is REO? Here's one for the longtail and a sort of WIKI entry to my BLOG!!!In any business it is hard not to slip into the industry vernacular and forget that our audience may not really be following. REO is an acronym for Real Estate Owned. Here in Simi Valley and Moorpark an REO property falls under the California process of foreclosure. California is a Trust Deed state. The term mortgage is a more universal term like Kleenex or Xerox for Californians. When a person borrows money against a property the Loan is made and secured against the property with an … (2 comments)
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