REO Homes

Real Estate Owned properties, or REOs, as they are commonly known, are homes that are owned by a bank after a public foreclosure auction. Usually, REO homes are on the books at the lender because the lender has either re-purchased the property at the public auction or, more usually, because no one bid on the properties at auction. An REO estate is usually considered a non-performing asset and lenders are very eager to get rid of such assets. This means that it is possible to buy REO properties for well below their market value.

Right now, bank-owned foreclosed properties are very plentiful and it is certainly a buyer's market. Thanks to the real estate boom years ago, competition among lenders and security offered by agencies such as Freddie Mac, many lenders lent mortgages to sub prime candidates for years. Not all of these homeowners have been able to meet their mortgage obligations and those who have been unable to make their home loan payments have been losing their homes to foreclosure, creating many REO properties on the market. More properties means better prices for you, the buyer.

Whether you are an investor or homebuyer, REO repo homes mean good value and big savings. Some of these homes are sold 30% or even 50% and more below market price. You can find an outstanding selection of REOs and other distressed homes at ForeclosedPropertiesData.com. Our daily-updated listings and resources allow you to access the latest information about the market right from your home computer.