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

259 14th St Se Unit #B, Washington image

259 14th St Se Unit #B, Washington — Old City I $540,800

Two Bedroom Condo, Two full bath open floor plan. Has front & rear entrance w/ Patio & assigned parking. Only four block to Potomac METRO, two block to Safeway. Condo fee...

2 Beds
2 Baths
DCDC2001343 MLS
Old City I Bldg.

1000 New Jersey Ave Se Unit #1002, Washington image

1000 New Jersey Ave Se Unit #1002, Washington — Capitol Hill Tower $459,900

The Best Of City Living ! This fabulous amenity-rich, pet-friendly luxury building in a sought-after neighborhood has everything you need. The spacious, high floor uni...

2 Beds
1 Baths
DCDC2000671 MLS
Capitol Hill Tower Bldg.

517 Rhode Island Ave Nw, Washington image

517 Rhode Island Ave Nw, Washington $699,900 ▼

Assignment Sale. Preferred Cash and quick settlement as it's all approved by the court now. See attached Assignment contract. For any more questions text showing contact ...

2 Beds
2 Baths
DCDC2016548 MLS

1440 W St Nw Unit #103, Washington image

1440 W St Nw Unit #103, Washington $146,000

INCOME RESTRICTIONS APPLY. OWNER OCCUPANT ONLY. NO INVESTORS. NO ANIMALS ALLOWED. NO RENTALS ALLOWED. BOARD APPROVAL REQUIRED. Search prop on auction for details and offe...

1 Beds
1 Baths
DCDC2015580 MLS

311 56th St Ne, Washington $250,000

Rehab ready! 1 level Bungalow with 2 bedrooms and 1 bathroom is waiting for your full renovation ideas. This home is perfect for the seasoned investor and anyone lookin...

2 Beds
1 Baths
DCDC2015538 MLS

445 Manor Pl Nw Unit #4, Washington image

445 Manor Pl Nw Unit #4, Washington — Columbia Heights $434,900

Updated 2 bedroom 2 full bath condo with a modern touch in the Columbia Heights/ Petworth area, new hardwood flooring, modern cabinetry with soft close doors, granite cou...

2 Beds
2 Baths
DCDC2015068 MLS
Columbia Heights Bldg.

445 Manor Pl Nw Unit #2, Washington image

445 Manor Pl Nw Unit #2, Washington — Columbia Heights $434,900

Updated 2 bedroom 2 full bath condo with a modern touch in the Columbia Heights/ Petworth area, new hardwood flooring, modern cabinetry with soft close doors, granite cou...

2 Beds
2 Baths
DCDC2014784 MLS
Columbia Heights Bldg.

4237 Eads St Ne, Washington $699,000

Amazing opportunity to customize your dream home before the building is complete! The buzzing Deanwood community is seeing massive growth and investment and this is your ...

DCDC2011092 MLS

4669 G St Se, Washington $150,000

Very nice wooded lot for sale right off Benning Road, SE in Fort Dupont Park. The lot is 2,200 sf and is being sold with the adjacent lot, also 2,200 sf, (Total of 4,400...

DCDC2010112 MLS

4667 G St Se, Washington $150,000

Very nice wooded lot for sale right off Benning Road, SE in Fort Dupont Park. The lot is 2,200 sf and is being sold with the adjacent lot, also 2,200 sf, (Total of 4,400...