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

2331 15th St Nw Unit 406-N, Washington image
2331 15th St Nw Unit 406-N, Washington — Columbia Heights $379,900

Welcome to one-bedroom/one-bathroom condo located in the heart of Washington DC! As a resident of this community, you can indulge in an array of amenities. Nestled in the...

  • 1 Beds
  • 1 Baths
  • DCDC2288982 MLS
  • Columbia Heights Bldg.
3115 Westover Dr Se, Washington image
3115 Westover Dr Se, Washington $499,950

Investor opportunity in the established Hillcrest neighborhood of Southeast Washington, DC! This brick detached home, originally constructed in 1936, offers substantial r...

  • DCDC2288610 MLS
1245 13th St Nw Unit 416, Washington image
1245 13th St Nw Unit 416, Washington — Old City 2 $289,900

Light-filled corner studio with garage parking in the heart of Logan Circle. Situated on the fourth floor, this inviting residence enjoys natural light from two sides and...

  • 1 Baths
  • DCDC2288358 MLS
  • Old City 2 Bldg.
3217 12th St Ne Unit 101, Washington image
3217 12th St Ne Unit 101, Washington — Brookland $489,900

<p>Turn-key ready two-level residence at The Jackson Flats combines townhouse-style living with a prime Brookland location and off-street parking.</p> <p>The private fro...

  • 2 Beds
  • 3 Baths
  • DCDC2287430 MLS
  • Brookland Bldg.
1313 Dexter Ter Se, Washington image
1313 Dexter Ter Se, Washington $325,000

Welcome to this cute and cozy 2-bedroom, 1-bath attached row home nestled in the heart of historic Anacostia. Thoughtfully updated, this charming residence features brand...

  • 2 Beds
  • 1 Baths
  • DCDC2288076 MLS
416 Michigan Ave, Hagerstown image
416 Michigan Ave, Hagerstown $174,950

Bring this former beauty back. Featuring four bedrooms and two full bathrooms, a finished walkout basement, all stone exterior, huge backyard and space for a detached gar...

  • 4 Beds
  • 2 Baths
  • MDWA2040818 MLS
1112 Montello Ave Ne Unit CS-A, Washington image
1112 Montello Ave Ne Unit CS-A, Washington — Trinidad $169,900

Priced to sell quickly. The selling entity is motivated. Sold strictly "As-Is". This is a unique opportunity for a savvy buyer or investor to buy a like-new studio condo ...

  • 1 Baths
  • DCDC2287210 MLS
  • Trinidad Bldg.
115 New York Ave Nw Unit 6, Washington image
115 New York Ave Nw Unit 6, Washington — Old City 2 $374,900

Welcome to this 2BR/2.5 BA condo centrally located off of New York Avenue NW in the Old City II neighborhood. Nestled among the trees, urban condo in Mt Vernon Square bo...

  • 2 Beds
  • 3 Baths
  • DCDC2286676 MLS
  • Old City 2 Bldg.
1111 25th St Nw Unit 709, Washington image
1111 25th St Nw Unit 709, Washington — Central $559,900

Welcome to sophisticated city living in the heart of Washington, DC! This spacious one-bedroom, one-bath condominium is located in a beautiful luxury building and offers ...

  • 1 Beds
  • 1 Baths
  • DCDC2286460 MLS
  • Central Bldg.
3101 New Mexico Ave Nw Unit 855, Washington image
3101 New Mexico Ave Nw Unit 855, Washington — Wesley Heights $224,900

Unique Studio in sought-after Sutton Towers! Resort-Style Living at its best in the heart of Wesley Heights. Open contemporary floor plan in smartly designed renovated sp...

  • 1 Baths
  • DCDC2286230 MLS
  • Wesley Heights Bldg.

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