reos

255,129 Foreclosed Homes Went Unsold In 2007, And Are Now Owned By Lenders

255,129 Foreclosed Homes Went Unsold In 2007, And Are Now Owned By Lenders

Foreclosure tracking firm RealtyTrac has been delivering lots of bad news this year, not least of which is some sobering numbers on Real Estate Owned properties or REOs. An REO is what happens when a home cannot be sold at auction and becomes the property of the lender.