What does it mean if a home is bank owned?

Answer A bank-owned home is a house that has been foreclosed and is back in the possession of the lender, the bank. The term used in the real estate and financial industries is Real Estate Owned (REO).Sou... Read More »

Top Q&A For: What does it mean if a home is bank owned

What does a bank-owned REO mean?

Bank-owned REO refers to real estate owned by a bank. This real estate is usually acquired through a foreclosure process on property that is used as collateral for loans that are in default by the... Read More »

What is the difference between a bank-owned property and a HUD home?

Banks and HUD own property once in possession of a private individual or entity. HUD is the Department of Housing and Urban Development. Many commercial banks offer home mortgages.HUDHUD homes are ... Read More »

How to Buy a Bank Owned Home?

Foreclosure auctions are the most common type of foreclosure sale, but not all foreclosures sell at auction. Some fail to meet the minimum desired bid. In some cases, particularly in the case of go... Read More »

How to Sell a Bank Owned Home?

If you want to sell Bank Owned Homes, you need to have a real estate realtor’s licensed. Just so you know, these homes are properties owned by banks acquired through foreclosure proceedings.But b... Read More »