ORE, or OREO, specifically refers to real estate assets that lending institutions hold due to foreclosures. These are properties not used for bank operations but retained as a consequence of loan defaults.
Real Estate Owned (REO) refers to properties that a lender, typically a bank, has acquired through foreclosure. These properties are held in the lender's inventory until they are sold.
Real Estate Owned (REO) refers to properties that have reverted to the lender, typically a bank, after an unsuccessful foreclosure auction. These properties are then listed for sale as part of the lender’s inventory.
