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 ...

LOS ANGELES (AP) – Sales of U.S. homes facing foreclosure are on the rise and outpacing sales of bank-owned homes, a reflection of stepped up efforts this year by lenders to avoid foreclosing on ...

Auction.com said that demand for distressed homes, including bank-owned properties and foreclosures, shrank for a second straight quarter.

What Does REO Mean and How Is It Different From a Foreclosure? REO stands for real estate owned, and it refers to properties that banks or lenders have taken back after foreclosure.

Should you buy a bank-owned home? Buying a bank-owned property isn’t the fastest path to homeownership, but it’s possible to purchase the home at a reduced price or save on closing costs.