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.

Jeff Somers is a freelancer who has been writing about writing, books, personal finance, and home maintenance since 2012. When not writing, Jeff spends his free time fixing up his old house. He has ...

What is REO when it comes to real estate? It stands for real estate owned, and it’s a term you’ll see when a bank or lender takes ownership of a home after a failed foreclosure auction. When a ...

Buying that first home, whether looking for a homestead or an investment, can be exciting and terrifying. You’re thrilled about possibly owning a home or expanding your investment portfolio, but real ...