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RRE (Real Estate Owned) refers to properties owned by a lender, typically a bank or government agency, as a result of foreclosure or forfeiture. These properties are usually acquired through the foreclosure process after the borrower has defaulted on their mortgage payments. RRE properties can include residential homes, commercial properties, and vacant land. Once a property becomes RRE, the lender will typically try to sell it to recoup some or all of the outstanding debt. These properties are often sold at a discount, making them attractive to investors or first-time homebuyers. However, RRE properties can also come with potential drawbacks, such as the need for extensive repairs and maintenance. Overall, RRE properties can present both opportunities and challenges for buyers and investors in the real estate market.