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Bank-owned properties may also be referred to as real estate owned or REO homes, REO properties or simply REO. You might see a property listed with details like REO foreclosure, meaning a ...
Real estate owned. Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender —typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1] A foreclosing beneficiary will typically set the opening bid at such an auction for at ...
Website. www.claytonhomes.com. Clayton Homes (or Clayton) is the largest builder of manufactured housing and modular homes in the United States. [1][2] It is a wholly owned subsidiary of Warren Buffett's Berkshire Hathaway. [3] Clayton Homes' corporate headquarters are in Maryville, Tennessee. [4]
CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small businesses ...
Banks usually attempt to auction foreclosed properties. However, most foreclosures not sell at auction. When an auction is unsuccessful, the bank will list it for sale as an REO. From the buyer ...
With more and more "distressed" (foreclosed) homes up for sale, a bank-owned home may be the way to go if you are considering buying a house. But experts say buying from a bank is very different ...
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