If you’ve been looking at listings online, you may have come across the abbreviation REO, which stands for Real Estate Owned [by a bank, credit union, etc.]. This is often used in connection with foreclosures. So, you may be wondering if an REO and foreclosure are the same. When searching for homes to buy, the simple answer is “yes”. They sell under basically the same conditions.
Foreclosures are properties (homes or pieces of land) that are currently going through a legal process in which the len... read more