This assets is Real Estate Owned, or REO. The house was foreclosed and repossessed by a lender once the owner did not make payments. A bank is currently the operator. Given that financial institutions aren't in company to have homes, they tend to be serious about advertising foreclosed homes quickly at desirable low price ranges.
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This assets is Property Owned, or REO. The house was foreclosed and repossessed by a lender once the proprietor did not make payments. A bank is currently the operator. Because financial institutions are usually not in small business to personal homes, they usually are serious about advertising foreclosed homes immediately at attractive reduced price ranges.
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