REO Bank Foreclosures | Financial Blog Network

Bank Repossessions and REO (Real Estate Owned) Properties

Posted: 05 May 2008

Another great opportunity to purchase foreclosures is after the auction, when the lender is either the successful bidder or there are no bids at all. In either case, the bank becomes the legal property owner and the property is considered a non-performing asset of the bank. When ownership is transferred to the bank as a result of foreclosure, these Bank Foreclosures are often referred to as either REO (Real Estate Owned. Property that is in the possession of a lender as a result of foreclosure or forfeiture. )or Bank Owned properties. At this stage, the key point to remember is… Continue reading

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