Other Real Estate Owned (OREO)

Refers to real property owned by a bank that does generally have a “home lending dept” per se. Its a REO that is the result of foreclosure on a property Refers to real property owned by a bank that does generally have a “home lending dept” per se. It’s a REO that is the result of foreclosure on a property as a result of default by the borrower who used the property as collateral for the another type of loan.

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