WASHINGTON COUNTY MD FORECLOSURES & SHORT SALES REPORT  

There are 72 lender owned foreclosures (REO) available for purchase in Washington County MD

Click the following URL to see the listings.  Click on the listing number for full details on each property. Sort by column headings.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93581972-101

When you are searching for homes in Maryland, you will want to use Homes Prospector at www.roykelley.com  This is a service of MRIS, the regional multiple listing service, and you will find the most accurate up to date information on properties that are available for purchase. Foreclosures will be included in the results of your searches.

Most of the homes that are sold at trustee sale auctions at the court house entrance are purchased by the secured mortgage lenders. The lenders then offer the homes for sale when they become part of the REO inventory. All of the lender owned homes are listed with area agents and are available on MRIS.

Why are buyers focusing on the REO inventory? The simple reason is that is where the purchase bargains are being found. Lenders are highly motivated sellers and they reduce the prices until the properties are under contract.

What about the bargains in the inventory of short sale listings? These transactions take longer since they require third party approval. The secured lenders must agree to the contract terms since the proceeds will not fully cover the mortgage balances. More frustrations are to be expected since many of the lenders fail to approve the sales. These properties are sometimes described as pre-foreclosures.

122 active short sale listings are available in Washington County.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93582003-115

All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. First time home buyers need to move quickly to qualify for the currently available $8,000 tax credit. The settlement deadline to qualify for this incentive is November 30, 2009. Legislation to extend this program has not yet been approved.