real estate owned

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Real Estate Owned

Describing property owned by a lender after a foreclosure and the lender's subsequent failure to sell at a foreclosure auction. That is, if a bank forecloses on a property, it attempts to sell the property at an auction for an amount at least equal to the outstanding loan and associated fees. If it fails to do this (usually because the market value of the property is less than the outstanding loan), the property becomes real estate owned. The bank then attempts to sell the property at whatever price it can find. Real estate speculators often seek out real estate owned property because they can sometimes buy it for less than the market value.

real estate owned (REO)

Foreclosure property held by a lender.

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8 million and was responsible for 191 real estate owned properties valued at $64.
The Company also announced that a contract has been entered into to sell real estate owned which secures an approximate $23 million securitized delinquent commercial mortgage loan collateralizing certain commercial mortgage securities.
The second action that was approved was the merger of IBAC Corporation and the remaining real estate owned assets and future acquisitions into a fully reporting and trading OTCBB company, the surviving entity will include all of IBAC's real estate holdings and will maintain the IBAC name and share structure.
has assisted this and other institutional lenders in disposing of their real estate owned portfolios.
By resolution type, real estate owned (REO) liquidations generally have the highest loss severity.
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The special servicer rating reflects KBREC's ability to workout, manage and liquidate nonperforming loans and real estate owned (REO) properties in CMBS transactions.
Also, we are pleased to report that in July, we sold our last remaining parcel of real estate owned, which we had acquired through foreclose for $2.

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