Usually the answer is "real estate owned." I've also heard that it's "real estate, other" which is what accountants call the real estate owned by the bank after a foreclosure. "Other" to distinguish it from productive, useful real estate (branches, that sort of thing) on the books.
REO = Real Estate Owned
your idea of what it is, is correct.
I've also heard it called (B)ORE for (Bank) Owned Real Estate.
REO? Aren't they a musical group from the 80's?
Oh, yeah, I forgot. That was REO Speedwagon. oops.
Usually the answer is "real estate owned." I've also heard that it's "real estate, other" which is what accountants call the real estate owned by the bank after a foreclosure. "Other" to distinguish it from productive, useful real estate (branches, that sort of thing) on the books.
Quote:Help me out here please.MWI509,
I you need assistance with other abbreviations, check out the TCI abbreviations and acronyms encyclopedia.
http://www.thecreativeinvestor.com/modules.php?name=Tools