Yahoo: Bank-owned properties: What are they and where can I find them?
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.
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Purchasing a foreclosed home involves buying a repossessed property at a reduced price with the help of a real estate agent and submitting an offer to the bank. The real key to successfully buying a ...
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