But then, it went into foreclosure and didn’t sell at auction, so now it’s listed as an REO, or real estate-owned property. A “real estate owned,” or REO, home is one that’s owned by a bank. MORE

Bank repossessions on REO homes (real-estate owned) were also up 28% from last month for a total of 2,577 U.S Mortgage Real Estate bank reposessions Default Featured Foreclosure foreclosure moratorium Foreclosure starts Housing Market Property data Rick Sharga MORE

Artificial Intelligence company Quantarium announced on Thursday its partnership with Valligent Technologies to launch a condition adjusted “Quantarium Valuation Model” for equity lending, broker price opinions and real estate owned valuations. MORE

John Durham is a successful real estate agent in Henry County, Georgia, and has purchased homes at auction for 16 out of 20 years of his career as a real estate agent. “I’ve In small towns, they have their own newspaper. Want to buy a house? MORE

Agent Sponsored Grant Clayton How to break into the lucrative REO market radian Real Estate Owned real estate owned properties reoEven in a busy market, listing agents typically handle only a handful of listings at any one time. MORE

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? How a house becomes bank-owned. MORE

The suspension of evictions applies only to homes owned by Fannie Mae and does not apply to tenants in homes that have not been foreclosed. – Foreclosure-related activities (except as to vacant or abandoned properties) and evictions of occupants from real estate owned by Fannie Mae are suspended until Dec. Homeowners can find out if they have a Fannie Mae-owned mortgage by visiting www.KnowYourOptions.com/loanlookup. MORE

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. What is a bank-owned home? Why would I consider buying a bank-owned home? MORE

If a mortgage lender acquires the title to a property as the result of a foreclosure, the property is called an “REO” property, which is short for “Real Estate Owned.” REO properties pose their own unique set of dangers for appraisers. MORE

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. MORE