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.

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 ...

Today’s real estate market can be challenging for homebuyers. A sustained rise in prices has made the market increasingly expensive, and competition for properties can be intense. Bank-owned ...

Buying a house right now is a nightmare. Just a few years ago, lenders were giving out 3% mortgages left and right, but today, interest rates are hovering at around 7%. Meanwhile, home prices are ...