Bank Owned Properties

Wednesday, February 10th, 2016

There are so many terms for distressed properties these days that it can be confusing. “Bank-owned,” “short sale,” “foreclosure” and “REO” (real estate–owned) properties all refer to the involvement of a bank in the sale of a property. Bank Owned Properties Definition 1.                A bank-owned property has gone through a foreclosure process and an unsuccessful auction […]