Bank Foreclosure Real Estate - How Does It Work?

Bank foreclosure real estate, also referred to as REOs (Real Estate Owned), is foreclosed real estate that is owned by the bank due to an unsuccessful foreclosure auction. If a house failed to sell at an auction, there can be many a reason why this was the case. This would usually be due to the home's value not being able to match what is owed to the bank - in other words, negative equity can lead to bank foreclosure real estate. To sum things up in a nutshell, the bank would certainly want to be compensated properly and thus receive the original loan's unpaid balance, so the minimum bid for

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