hagerstown bank owned properties: Zombie Foreclosures: “Plight of the Living Debt”
- 05/28/13 12:10 AM
If you’ve come across the term "zombie foreclosures" in recent months, it wasn’t referring to voodoo parlors whose priests couldn’t pay the mortgage. Not exactly dead, but not exactly alive, they are properties stuck in a kind of zombie-like limbo. They are homes that have been abandoned by their former owners at some point before foreclosure. Now they are sitting there, accumulating ongoing taxes, liens, and gradual deterioration while the bank decides what to do (or not do) about them. According to RealtyTrac, there are probably 302,000 "zombies” nationwide, so the odds are, some are going to be here. Whenever you … (0 comments)
hagerstown bank owned properties: REO Bargains Remain for Heads-Up Hagerstown Home Hunters
- 02/17/13 06:28 AM
REO Bargains Remain for Heads-Up Hagerstown Home Hunters Yes, foreclosure rates across the country continue to drop, yet Hagerstown bargain-hunters can take heart: there still remain a goodly number of bank owned properties in our area. According to the National Association of REALTORS®, distressed homes accounted for 24% of national December sales; a large proportion, but significantly down from the 32% of just a year ago. Also known as “real estate owned” (or REO) properties, it is well-known that these homes can often be bought at a significant discount -- frequently by as much as 16% – 17% below market. Before … (0 comments)
If you’ve come across the term "zombie foreclosures" in recent months, it wasn’t referring to voodoo parlors whose priests couldn’t pay the mortgage. Not exactly dead, but not exactly alive, they are properties stuck in a kind of zombie-like limbo. They are homes that have been abandoned by their former owners at some point before foreclosure. Now they are sitting there, accumulating ongoing taxes, liens, and gradual deterioration while the bank decides what to do (or not do) about them. According to RealtyTrac, there are probably 302,000 "zombies” nationwide, so the odds are, some are going to be here. Whenever you … (0 comments)
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