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)
Further reading
Old. Elderly. Senior. Why are we so uncomfortable when we talk about reaching a certain point in life? An 82-year-old seeks a more positive term to describe how she feels about her age. And: a linguist helps solve a famous kidnapping case, using the...
People who hunt treasure with metal detectors have a lingo all their own. Canslaw means the shreds of aluminum cans left after a lawnmower ran over them. And gold dance? That’s the happy jig you do if you find something far more valuable than...