Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

Today’s real estate market can be challenging for homebuyers. A sustained rise in prices has made the market increasingly expensive, and competition for properties can be intense. Bank-owned ...

Online real estate marketplace Auction.com released data this week showing that demand for distressed homes — including bank-owned properties and foreclosures — shrank for a second straight quarter.