Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes
HomeLight
AUGUST 31, 2020
When a homeowner can’t make their payments, they may either try to sell their home before they get too far behind on their mortgage, or they could simply let the loan go into default. At this point it is now called a bank-owned or real estate-owned (REO) property. Source: Stephen Leonardi / Unsplash).
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