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What does REO mean??

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January 20 2012 - Cutler Bay
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It is actually a term, or acronym, that comes from a Lender's balance sheet, and describes a category of their assets known as Real Estate Owned. It is used, oddly, to describe houses that have been foreclosed on, and are for sale by the Lender that owns them, or is the servicing entity for a non servicing investor.

House the Bank has to sell, is the short version.
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January 20 2012
REO = Real Estate Owned.
This is typically after a Foreclosure but can be Bank Owned or Corporate Owned.
Have a God Blessed Wonderful Day!!!!
Suzan Clough [Promotion removed by Zillow moderator. Please see our Good Neighbor Policy.]
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October 29 2012
a foreclosure basically...real estate owned (by the bank)
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January 21 2012
It is usually a home the bank acquired by foreclosure or deed in lieu of foreclosure.
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January 21 2012
Great question.  It means Real Estate Owned.  As a Realtor, I've always found the term to be a peculiar term.  It means that a lending institution owns the property. 
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January 21 2012
Most of the time it means.. Bank Foreclosure 
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January 21 2012
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Thanks to all!!

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January 21 2012

A bank or lending institution does not have to own a property for it to be REO, no foreclosure is necessary.

REO is exactly that Real Estate Owned.    Every loan application includes a Schedule of REO on Page 3 for property a borrower owns.  

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January 21 2012
Real Estate Owned by a bank or lending institution. 
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January 20 2012
Excellent answer by Hamp.
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January 20 2012
Just another word for a foreclosed house.
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January 20 2012
 
Related Questions
What does REO mean??
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Latest answer by Suzan Clough
October 29 2012 | 11 answers
  • Asked by mia33
  • In Mortgage
  • January 20 2012
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