R.E.O.s (Real Estate Owned)

Definition: The acquisition of property in the possession of a lender as a result of foreclosure or forfeiture

Often as the economy takes a downturn, owners face a predicament in which they must turn the property over to the lending institution because the mortgage cannot be paid.

Commonly when a Buyer plans to purchase an R.E.O. property, they incur special challenges such as tighter time lines and rigorous policies. Our Escrow Officers specialize in R.E.O. transactions and understand the importance of taking action o n all matters in a timely manner.