REO stands for real estate owned and occurs when a house goes into foreclosure after a property owner cannot make principal and/or interest payments on a loan. The property then goes through the foreclosure process and is placed for sale by auction. If the opening bid is not met, the property becomes a REO or real estate owned.
Ocwen reo. ocwen offers both residential and commercial REO services including foreclosed property sales. Please click on either of the links below to browse our current listings or to find out more information:
Though the current glut of bank-owned properties has reached peak levels, the worst is yet to come. As of June 2010, the level of REO for U.S. banks equaled about $44 billion including residential and.
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Comprehensive Commercial REO Services. Today’s challenging real estate market has resulted in a significant number of lenders holding real estate owned properties (REO). The sale of REO property entails a more complex and detailed closing process, often.
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