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Finance Dictionary and Glossary of Investment Terms
Real Estate Owned. Property which is in the possession of a lender as a result of foreclosure or forfeiture.
An acronym for "real estate owned" by a bank that foreclosed on the property. Banks do not like REOs. Banks are in the money business, not the real estate business and a long list of REOs is not good for the bottom line. The savings and loan crisis of the 1980s is proof of that.