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...
pop-up tax n.— «If the proposed bill—sponsored by Rep. Andy Meisner, D-Ferndale—passes and is signed into law, the buyer of Rimanelli’s home would be allowed to retain the current $3,500 tax bill, dodging the pop-up tax—the name given to...