Understanding Real Estate Owned Property 7594243599092533555-blid-3529757931502062577

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You have probably heard the term real estate owned, but do you know what it means? Real estate owned, also known as REO, is a type of property ownership wherein the lender repossesses a property after a failed foreclosure auction or when no short sale was made.
from: http://ezinearticles.com/?Understanding-Real-Estate-Owned-Property&id=6109448