What is a REO?
Author: Support Services, e-PRO
When a home is sold through a foreclosure auction say at the Hernando County Florida Courthouse steps, its owner usually owes more to the bank than the market will bear of the property itself. As a result, few foreclosed auctions end with the property being sold, so the title goes to the lender holding the lien. Therefore REO (Real Estate Owned) properties.
