Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

This article was first published on NerdWallet.com. Home prices are still rising — they’re currently averaging just below all-time highs set in 2006, according to the Case-Shiller Home Price Indices.

Jeff Somers is a freelancer who has been writing about writing, books, personal finance, and home maintenance since 2012. When not writing, Jeff spends his free time fixing up his old house. He has ...

What is REO when it comes to real estate? It stands for real estate owned, and it’s a term you’ll see when a bank or lender takes ownership of a home after a failed foreclosure auction. When a ...

Getting a bargain or reduced price on a home in today’s market seems like a long shot. But a bank-owned property may offer one way for a homebuyer to purchase an affordable home or a home in an area ...

The volume of bank-owned foreclosed homes – known as REOs, or real-estate owned properties – is growing at an alarming rate, compounding the foreclosure crisis by sticking hard-hit neighborhoods with ...

Home prices are still rising — they’re currently averaging just below all-time highs set in 2006, according to the Case-Shiller Home Price Indices. Combine that with slim housing inventory in many ...

Bank-owned properties can offer quite the deal. In most cases, these are homes that were passed up during a foreclosure auction, and now, the bank is on its last line of defense. They need to sell the ...

Want a bargain-priced property? Use these resources to look for bank-owned homes. Bank-owned properties can offer quite the deal. In most cases, these are homes that were passed up during a ...