REO, or Real Estate Owned, is property that failed to sale at a foreclosure auction and is now owned by a bank. Below is a free list of banks and links to their REO property.

Some links below lead directly to the lenders REO Department while other link to third party websites that provide REO services for the lender.

Countrywide REO:
http://www.countrywide.com/purchase/f_reo.asp

Bank of America REO:
http://bankofamerica.reo.com/search/

HSBC REO:
http://www.banking.us.hsbc.com/

Ocwen Financial REO:
http://www.ocwen.com/reo/home.cfm

JP Morgan Chase Bank REO:
http://mortgage.chase.com/pages/other/co_properties_landing.jsp

M&T Bank REO:
http://services.mandtbank.com/personal/bank_owned_prop.cfm

Wells Fargo REO:
https://www.pasreo.com/reo/

Washington Mutual REO (WAMU):
http://www.wamuproperties.com

American Home Mortgage REO:
They aren't taking mortgage applications anymore but they are selling real estate, go figure. ;)
http://www.ahmhomes.com

Wachovia REO:
http://reo.wachovia.com/

Washington Mutual REO:
I could not locate any information about their REO.

Deutsche Bank REO:
No information is available online.

SunTrust REO:
SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.
http://www.suntrustmortgage.com/reo.asp

First Niagra Bank REO:
The First Niagra website states that REO listings are not currently available but they do list contact information.
http://www.fnfg.com/personal_banking/mortgages/real_estate_owned_sale.asp

Key Bank REO:
No Key Bank REO information is availabe at this time.

Compass Bank REO:
https://www.compassbank.com/appforms/properties/index.jsp

Fannie Mae REO:
http://www.mortgagecontent.net/reoSearchApplication/fanniemae/

Freddie Mac REO:
http://www.homesteps.com/hm01_1featuresearch.htm

HUD REO:
http://www.hud.gov/homes/index.cfm

HomeSales.gov also offers properties offered for sale by the government.

Coldwell Banker REO Division
Coldwell Banker REO Division

Regions Bank Properties
http://realestate.regions.com/servlet/Ore/ForeclosedPropertySearch.jsp

Citibank REO
http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do

SBA Properties
http://app1.sba.gov/pfsales/dsp_search.html

FDIC Real Estate Owned
http://www4.fdic.gov/DRRORE/

Sallie Mae Financial Services Properties
http://www.grpcapital.com/properties/index.html

BB&T REO (Branch Bank and Trust)
http://www.bbt.com/applications/specialassets/search.asp

Beal Bank Commercial REO
http://www.bealbank.com/Content.aspx?ID=13

GRP Financial Services Properties
http://www.grpcapital.com/properties/index.php

Fifth Third Bank REO:
No information is available online.

First Charter REO:
No information is available online.

People's Bank REO
http://www.peoples.com/im/cda/multi_elements/0,,1355,00.html

State Street REO:
No information is available online.

National City Mortgage REO
http://www.ncmcreo.com/

Taylor Bean REO
http://www.taylorbeanhomes.com/

Downey Savings & Loan
http://www.downeysavings.com/bank-owned-properties

I've been doing research for our company using the REO sites listed on Mortgage News Daily. Our focus is geared more towards the commercial and multifamily assets so my feedback does not provide much assistance for the single family home investors.

I found the following site for Wachovia that may be helpful:

http://www.wachovia.com/misc/0,,277,00.html

I also did research on Key Bank. While I did not track down a specific website for the Key bank REO’s or foreclosures, I did e-mail several of the executives in the hope of finding some of this information. This site lists the debt capital executives as well as their contact info.

https://www.key.com/html/J-2.17.a.html

I hope this helps.

For people searching for REOs in western states - Zions bank has a web page listing their foreclosures: https://www.zionsbank.com/foreclosed_properties.jsp This site allows a person to view pictures of the property, it also shows the listing agent and list price.  The site is well organized and updated often.

Many Realtors will provide you with complimentary lists of REO properties in cities you are interested in. Just ask. Todays Multiple Listing Services can filter email lists for just about any type of data including short sales, bank owned homes, pre foreclosures, probate properties, etc. realtor.com allows you to search by foreclosues. So does zillow.com and many others. I also like realtytrac.com which is a paid service. When I checked with WAMU about their foreclosed homes they referred me to buybankhomes.com