Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

Foreclosure can be a long process. It starts when a homeowner defaults on a mortgage and a bank or financial institution repossesses the home. And it ends when the bank sells the property to recoup ...

Headlines scream almost daily about soaring foreclosures, that more than 1 million homes were lost to foreclosure in 2008 and the number is expected to top 1.2 million this year. The good news in Las ...

When a lender cannot sell a default property in a short sale or at a foreclosure auction, it becomes Real Estate Owned (REO). REO refers to a home or other property now owned by a lender— that could ...

A real estate-owned (REO) foreclosure offers investors or potential homeowners the opportunity to secure a property under market value. REO properties have proven that they warrant the attention of ...

Getting a bargain or reduced price on a home in today’s market seems like a long shot. But a bank-owned property may offer one way for a homebuyer to purchase an affordable home or a home in an area ...

Foreclosures have been holding back the housing market for some time. It’s one of the reasons housing prices have continued to sag, long after many predicted a rebound. But recently there has been ...

Such sales increased in October. Out of 63 sales Santa Barbara, 14 were REOs. Overall, there were 116 sales transactions in Santa Barbara County, and 24 percent were REOs. There are several reasons ...