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The Difference Between a REO and a Foreclosure

Discussion in 'Education, Tutorials & Courses' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    One of my biggest hurdles is getting new investors to understand the difference between a foreclosure that is going to auction and a REO (Real Estate Owned). First, let’s start with simple definitions. Foreclosure: A legal action that ends all ownership rights in a home when the homebuyer fails to make the mortgage payment or is otherwise in default under the terms of the mortgage. Federal Trade Commission REO (Real Estate Owned): This is a term used in the United States to describe a class of

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