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A foreclosed property – also known as Real Estate Owned (REO) – is a home that was once customer-owned but has been turned back to the mortgage holder as the result of a foreclosure action or acceptance of a deed-in-lieu of foreclosure.
It turns out Americans weren’t ready to become a nation of renters – homeownership is back – A funny thing happened on the way to the U.S. becoming a nation of renters: People started buying homes again. In the longer run, home prices, not rising rents, were the real incentive. Zillow data.
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