An REO is real estate owned by the bank. The term REO can be defined as a specific type of property, but in real estate this acronym actually indicates that the property in question has been foreclosed on and has been taken back by the mortgage lender or trustee. Over the past few years, buying REO ...

The trend of buying foreclosure properties has witnessed a steep rise in the past couple of years. Today, banks and other financial institutions around the world have an abundance of bank foreclosure auctions and the growth of foreclosures is expected to continue in next few years. Buying a bank ow...

Foreclosures are hitting record highs according to recent industry report submitted by RealtyTrac. As per RealtyTrac, an online firm specialized in foreclosure properties, states that foreclosure filings which includes auction sale notices, home-loan default notices and bank repossessions, were ...

I knew Las Vegas would get hit hard by foreclosures when my friend bought a condo there for $300k a couple years ago. With nothing but open desert for miles around there’s no way that a 2BR condo could be worth 300,000 crispies! I don’t call this market downsizing, I call it “rig...