Investor Financing: A Maryland lender is quoting 5%+1+1 for 30 year fixed rate investor financing. 75% LTV to $417,000. This lender limits the maximum number of financed properties to four, including the primary residence.
Montgomery County MD Lender Owned Foreclosures & Short Sale Listings
***Please take action now if you need to purchase by the end of April to qualify for the tax credit of $8,000 for first time home buyers or $6,500 for current home owners that are purchasing another primary residence. FHA buyers will save if they purchase before April because the front end mortgage insurance premium will be increasing from 1.75% to 2.25% for case numbers assigned from April 5.***
There are 102 active listings of lender owned foreclosures (REO) at or BELOW $250,000 in Montgomery County MD. Click on the listing number to see the full property description. Sort by column headers.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-104543047-251
There are 93 active listings of lender owned foreclosures (REO) at or ABOVE $250,000 in Montgomery County.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-104542910-256
What are short sales? The answers are here: http://activerain.com/blogsview/1418385/what-are-short-sales- These are the transactions that require lender approval since the proceeds will not cover the mortgage balances. Short sales take longer and more frustrations should be anticipated. Bargains can be found for patient home buyers. These are pre-foreclosures listings and buyers need to be very selective since many of the properties are sold at the trustee sale auctions.
There are 254 active short sale listings priced at $250,000 and BELOW in Montgomery County.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-104542855-896
There are 249 active short sale listings available at $250,000 and ABOVE in Montgomery County.
Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-104542968-882
Pre-approval for mortgage financing is the first step in the home purchase process. Ask us for a referral if you do not have an existing relationship with a mortgage lender.
The Home Buyer Tax Credit now includes current home owners as well as first time buyers. This link provides the highlights of the program: http://www.federalhousingtaxcredit.com/glance.php
Please contact us with your real estate questions. Your referrals of friends and family members will always be appreciated.
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