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Buying Foreclosure REO—the Ups and Downs of Doing That

Buying foreclosure REO from a bank or mortgage company can be a good choice for you or depending on the particular circumstances, can turn out to be a nightmare. REO stands for “real estate owned” and represents a property that the lender has taken back through foreclosure and which is now titled in the lender’s name and managed by the bank or one of its agents.   These properties are…

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