2012-08-29 — cnn.com
``Roughly 620,000 foreclosed properties in the United States are owned by lenders, according to RealtyTrac. The number of these properties, known as REOs, or "real estate owned," surged after the housing bubble but has since begun to drop, down from over one million in January 2011.
Still, of those 620,000 houses, 24% had been waiting for a new buyer for two years or more, and 11% for three years or more. ''
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