"REO" with "Oreo"? Housing Secretary Ben Carson confuses real estate term.

Home >Life > "REO" with "Oreo"? Housing Secretary Ben Carson confuses real estate term.

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For those unfamiliar with housing terms, “REO” stands for “owning real estate” – a term used to describe a foreclosed property that is transferred back to a bank or lender after an unsuccessful auction. Banks usually sell REO properties as they are, which means buyers will buy homes and all the problems.

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