What is a bank-owned or "REO" property? expand. Real Estate Owned or "REO," is a banking term used to describe a property that was acquired by a bank, lender or servicer as a result of a foreclosure or deed-in-lieu of foreclosure.. The sale of the properties follows standard real estate procedures applicable to the state where the property.. Search for a property listing. Foreclosures are real estate owned, REO or bank-owned properties and they have the potential to offer an affordable option to the right buyers. Bank of America can help you learn about home foreclosures with helpful tools, resources and mortgage products that can help make the process of buying a bank foreclosure.
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What is an REO property? Bank-owned or REO properties are foreclosed homes that were repossessed by lenders. Fannie Mae and Freddie Mac, the government-sponsored enterprises that purchase.. Welcome to Truist Bank. Search for any property type including residential and commercial. When you locate a property you are interested in, please contact the assigned agent for more information or to schedule a viewing appointment. Truist Bank does not sell these properties directly. All negotiations are handled exclusively through the.
