what are Real Eastes

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what are Real Eastes

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Re: what are Real Eastes

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# 1

An REO (Real Estate Owned) is a property that goes back to 
the mortgage company after an unsuccessful foreclosure 
auction.  You see, most foreclosure auctions do not even 
result in bids.  After all, if there was enough equity in 
the property to satisfy the loan, the owner would have 
probably sold the property and paid off the bank.  That is 
why the property ends up at a foreclosure or trustee sale. 

Since what is owed to the bank is almost always more than 
what the property is worth,  very few foreclosure auctions 
result in a successful sale.  Then the property "reverts" 
to the bank.  It becomes an REO, or "real estate owned" 
property. 
 
Read more...  
 

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Varsha

Re: what are Real Eastes

Answer
# 2

"Real Estate" means any immovable porperty, particularly 
land with buildings on it.

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Balram Gorak

Re: what are Real Eastes

Answer
# 3

immovable porperty, i.e.land

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Raju

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