What is a REO timeline?

A REO timeline is a sequence of events that culminate with the sale of the REO property.

The REO timeline starts when a property owner stops making mortgage payments to a lender. The lender then eventually forecloses the property and takes possession of the property.

Once the lender takes title to the property, the property becomes a REO property. The lender will next list the property for sale. A buyer purchases the REO property and the timeline is complete.