what is an reo?

Asked by Greg Silverman, Menlo Par, CA Tue Feb 26, 2008

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Bill Eckler, Agent, Venice, FL
Sun Jan 11, 2009
Greg,
The REO designation meand real estate owned and is associated with banks takin ownership of these properties for non-payment of mortgage debt.

Hope this is helpful
0 votes
Phil, , Guilford, CT
Sun Jan 11, 2009
Yes, Bank Owned .. typically from a Foreclosure.

REO = Real Estate Owned
0 votes
Jaime Druck, Agent, Mequon, WI
Tue Feb 26, 2008
An REO is a bank owned property.
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