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REO Properties

REO Properties – Understanding How It Works

What are REO Properties? Real-estate owned or REO properties are bank-owned or repossessed properties. Despite the name, they are not owned by realty companies. When a homeowner fails to pay their mortgage, the home goes into foreclosure. If the owner never gets the money and the property doesn’t sell at auction, the bank takes ownership. At this point, the property would become an REO… Continue Reading REO Properties – Understanding How It Works

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