What is the difference between a foreclosure and REO

This question comes up quite often these days - "What is the difference between a foreclosure property and REO (real estate owned)?

A foreclosure is a legal process in which, against the wishes of the owner, real property is sold to satisfy a public or private debt for which the real property has been pledged as security.

Real Estate Owned (REO) is real property that has been foreclosed by a lender and is now owned by the lender.

There's a lot of confusion between a foreclosure and REOs. When real estate buyers call me asking about foreclosures in most instances, they are really inquiring about REOs and here's why?

READ FULL ARTICLE ON THE DIFFERENCES BETWEEN REO AND FORECLOSURE HERE

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