There are words and acronyms that have been around for years with few people ever hearing them. Suddently they are now becoming common place. REO is one of those acronyms. It simply means Real Estate Owned property. A lender or guarantor such as Fannie Mae, Freddie Mac or HUD owns the property. These properties have normally been acquired through foreclosure.
Today most lenders and government housing agencies have an abundance of REO proerties. They are normally sold through Realtors with the normal rules applying to foreclosed properties.
If you would like more information about REO properties or how to find them, please Contact Us.