leo said...

For those of you unfamiliar with REOs (real estate owned), these are generally foreclosed properties owned by the lenders…

CR has a number of informative articles that you won’t find in the CNBC euphoria…

“badly damaged foreclosed homes … are a much bigger element of the national housing picture than officials in Washington have acknowledged”

Full article: http://www.calculatedriskblog.com/2009/04/report-one-third-of-reos-seriously.html