Washington County Foreclosure Homes

Foreclosure is an often miss used word...

Foreclosure is actually the process that is taken when a homeowner has stopped making payments on their loans and the bank files for foreclosure in the local courts. They have to hire attorneys and the process is not only expensive, but could take not just months but possibly years to complete.

The correct words for a home that has gone through the foreclosure process are Bank Owned or REO (real estate owned) Property.

I guess it is just easier for the population as a whole to call them foreclosures.

So why would someone stop paying their mortgage?

The easy answer is life happens. Divorce, death, job loss, illness and more; are life events that can cause a financial strain on anyone.

Keep in mind that Banks are not in the business of owning homes.

They are in the business of LENDING money for people to buy homes. So when someone stops making their payments, the logical thing to do is to take it back and sell it to someone else.

Sounds kind of harsh, I know. I make no excuses for any bank, mind you. I have seen way too many instances, where if they (the bank) had been willing to make just one little tweak to their loan, the homeowner could have stayed in the home and continued to make payments. It is a very frustrating system.

One of the alternatives of Foreclosure is a Short Sale, where the homeowner can stay in the home up to the day of closing to a new buyer, possibly saving up their money and moving with a little bit more in their pockets than they would have just walking away.

Newest Washington County Foreclosures

26 NORTH AVENUE, Hagerstown $49,900

4 bedroom, 2.5 bath duplex. Finished attic with 4th bedroom and bath, separate dining room, 2 off street parking spaces and deck in rear.

4 Beds
3 Baths
WA10063884 MLS

13807 DRY RUN ROAD, Clear Spring $59,000

Three bedroom cottage on app. 1.5 acre in quiet country setting. Large country kitchen, wood beams, hearth for wood burning stove. Priced to sell.Online sale, REO sold AS...

3 Beds
1 Baths
WA10063932 MLS

11804 CLEARVIEW ROAD, Hagerstown $145,900

Much to enjoy. Main level living with 2 bedrooms, full bath, kitchen and living room. Upper level has 3rd bedroom and a bonus room with built in shelves. Unfinished basem...

3 Beds
1 Baths
WA10063905 MLS

13144 RESH ROAD, Hagerstown $130,900

3BR rancher on almost 1 acre in the country. House needs rehab and will not pass FHA, VA, or USDA financing. 2 car carport. Partially finished basement. Public water....

3 Beds
1 Baths
WA10062066 MLS

252 CREEK ROAD, Hancock $64,900

2 bed, 1 bath Hancock, MD home for sale. This property is nestled in a rural part of the town. It has extra privacy as it's in awooded area. It sits on 1.5 acres of land....

3 Beds
1 Baths
WA10060477 MLS

12002 HEATHER DRIVE, Hagerstown $46,900

Great opportunity! Four bedroom, two bath home in convenient location. Master suite with attached bath, kitchen with island and dining area. Call today to schedule you...

4 Beds
2 Baths
WA10056894 MLS

103 BACHTELL CIRCLE, Smithsburg $254,900

Nice 3 bedroom, 2.5 bath Split Foyer in Smithsburg. Features new carpet, counter tops, fresh paint, refinished hardwood floors and all new fixtures

3 Beds
3 Baths
WA10056715 MLS

635 GUILFORD AVENUE, Hagerstown $64,900

Freddie Mac first look thru Oct 2. Investor offers considered after that date. Seller WILL NOT complete any repairs to the property, either lender or buyer requested. T...

3 Beds
1 Baths
WA10054458 MLS

712 JEFFERSON BOULEVARD, Hagerstown image

712 JEFFERSON BOULEVARD, Hagerstown $99,900

Freddie Mac first look thru Sep 27. Investor offers considered after that time. A diamond in the rough. This home needs some cosmetic work but plumbing has been checke...

4 Beds
1 Baths
WA10050772 MLS

258 FREDERICK STREET, Hagerstown $62,000

3 Bedrooms, 1 bath, 2 story home featuring eat in kitchen, enclosed mud room off of kitchen, attic for additional storage and hardwood flooring in many room on main level...

3 Beds
1 Baths
WA10043905 MLS

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