Law Offices of Jingting Li, PLLC
法拍屋/Real Estate Owned
什麼是Real Estate Owned?
What is Real Estate Owned?
REO is a class of property owned by a lander—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property.