When I think of REO, I rarely think of properties, real estate, or banks. I usually think of the Holiday Inn commercial. You know the one where the guys hum “Take it on the Run” by REO Speedwagon:

REO stands for Real Estate Owned. People inside and outside of the real estate industry believe that foreclosure and an REO purchase are one and the same. They aren’t. A REO property is the direct result of a failed foreclosure sale.

To learn more about REO, visit the REO BLOG.

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