What is a foreclosure?
The legal process by which an owner’s right to a property is terminated, usually due to default of a loan. Typically involves the forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.

What is an “REO”?
Real Estate Owned. Property which is in the possession of a lender as a result of a foreclosure. Realtors often use the words “REO” and “Foreclosure” interchangeably when referring to the status of home.

Contact me for Foreclosed Property Information.