Housing Secretary Can’t Tell the Difference Between a Basic Real Estate Term and a Cookie

In real estate parlance, an “REO” (abbreviation meaning “real estate owned”) is a term used in reference to properties where ownership has transferred back to a bank or lender after they have been foreclosed upon and failed to sell at auction. Granted, I only know this because Rep. Katie Porter (D-CA) succinctly explained what the…

Source: https://www.spin.com/2019/05/ben-carson-roe-foreclosure-oreo-katie-porter/
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The Article Was Written/Published By: Maggie Serota

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