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REO

REO
 n.— «R.E.O. is industry lingo for “Real Estate Owned,” the term that bankers assign to homes they have taken in a foreclosure. Reomac is the industry group that serves the mortgage default trade, specializing in selling the busted-up American dream.» —“Homeowners’ Hard Times Are Good for the Foreclosure Business” by Eric Lipton in Palm Desert, California New York Times Apr. 6, 2009. (source: Double-Tongued Dictionary)

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