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What is an REO property? REO, or real estate owned, property is property that has been foreclosed on by the bank. This generally occurs when the owner has failed to pay the mortgage on the home. REO properties are not only houses, though, as they can also be trailers, condos,
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Exactly what is a REO property? There is a whole bunch of property in the world that is classified as REO property, or real estate owned property, property which has been foreclosed upon by the bank. For the homeowner, buying an REO property offers that buyer the chance to take
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