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.

This article was first published on NerdWallet.com. Home prices are still rising — they’re currently averaging just below all-time highs set in 2006, according to the Case-Shiller Home Price Indices.

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 ...

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 ...

Getting a bargain or reduced price on a home in today’s market seems like a long shot. But a bank-owned property may offer one way for a homebuyer to purchase an affordable home or a home in an area ...

Home prices are still rising — they’re currently averaging just below all-time highs set in 2006, according to the Case-Shiller Home Price Indices. Combine that with slim housing inventory in many ...

REOs are bank-owned properties not sold at foreclosure auctions and sold at discount. REOs arise when loan defaults lead to unsuccessful auction sales, necessitating direct sale. Buyers, particularly ...