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.

Bank-owned properties can offer quite the deal. In most cases, these are homes that were passed up during a foreclosure auction, and now, the bank is on its last line of defense. They need to sell ...

Bank-owned properties may offer rare bargains in this market and may even give ordinary homebuyers an edge over big-money investors. What Are Bank-Owned Properties?

Real Estate Owned are properties taken over by the lender when the borrower defaults on their loan. They may put on the market at a discount to recover some of the lender's costs.

What are bank-owned properties? A home becomes a bank-owned property after the homeowner defaults on their mortgage and the lender foreclose s.

Getty Images Bank-owned properties often require significant repairs, and it's up to you to determine what needs to be done and how that should influence the price.