Greetings fellow Rainers!!!
I'm just taking a break from my rather hectic day. For kicks, I thought it would be fun to start some sort of chain type thread just to see how long we could keep it going before we ran out of things to add. So my topic of choice is REO TERMINOLOGY.
Why? Maybe because in my neck of the woods it's all you hear about.
It's kind of corny I know, but with so many experts in the field I thought we could have fun, challenge ourselves, learn from one another or perhaps stump a few.
I'll go first -- REO (Real Estate Owned) - Property which is in the possession of a lender as a result of foreclosure or forfeiture.
I know, I know...I took the easiest one. What else did you expect me to do??? Just kidding. Anyway...chime away. Anyone have some good ones to stump the rest of us???