It means basically that its a foreclosure. It seems the person that noted this did it in the long way. If you see R.E.O. - it means Real Estate Owned but another way to say foreclosure. If you have any further questions / concerns or I can help you with any houses and/or get setup to recieve MLS listings emailed to you; give Dave a call at 616-866-5974.
Thanks, look forward to hearing from you soon. Have a great afternoon!