A foreclosure, also called an REO (Real Estate Owned) is a home that has been taken back by the bank that holds the existing mortgage when the mortgage holder (owner) has been unable or unwilling to make the payments. About 30 percent to 40 percent of the people who got behind in their payments never even contact their lender. Many times they felt like the lender couldn’t do anything for them, and/or they were ashamed to admit they couldn’t meet their commitments.
Palm Beach County REO Properties
Browse listings for the latest foreclosures in Boca Raton and the Palm Beach County area, or continuing reading as we explain more about the foreclosure process. Click here to view short sales in Boca Raton.