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

509 Roxboro Nw Place NW, Washington image

509 Roxboro Nw Place NW, Washington $425,000

Fantastic opportunity! Semi-detached home with brick exterior, full basement and carport. Excellent location near Takoma Park Metro, New Walmart and restaurants! Sold as ...

4 Beds
3 Baths
DCDC432612 MLS

4230 Edson Ne Place NE, Washington image

4230 Edson Ne Place NE, Washington $229,900

NICE PROPERTY FOR INVESTORS OR FIRST TIME HOMEBUYERS. 4 BEDROOMS & 2 FULL BATHS. EXCELLENT LOCATION, CLOSE TO PUBLIC TRANSPORTATION AND SHOPPING.

4 Beds
2 Baths
DCDC432440 MLS

139 Mississippi Se Avenue SE, Washington image

139 Mississippi Se Avenue SE, Washington $250,000

We will be facilitating the sale of this property through our online marketing platform Xome.com. All offers must be submitted during the online marketing event. You will...

3 Beds
2 Baths
DCDC432146 MLS

4333 Hayes Ne Street NE, Washington image

4333 Hayes Ne Street NE, Washington $252,200

Super opportunity! House on 2 lots Plus extra building site! 3 bedrooms plus deck and full basement. Total rehab needed on this charming bungalow

3 Beds
2 Baths
DCDC431634 MLS

1242 Barnaby Se Terrace SE, Washington image

1242 Barnaby Se Terrace SE, Washington $230,000

Great chance to own this 3 bedroom, 1 bath home with about 1,134 SF to enjoy. Property is located near attractions, dining and shopping. Great place to call home. Make an...

3 Beds
2 Baths
DCDC431558 MLS

1301 Longfellow Nw Street NW Unit #306, Washington image

1301 Longfellow Nw Street NW Unit #306, Washington — 16th St Heights $275,000

The convenience that makes city life enjoyable! 16th Street Heights, neighbor to Petworth, Colombia Heights & Crestwood, is just blocks away from Rock Creek Park, Carter ...

1 Beds
1 Baths
DCDC430476 MLS
16th St Heights Bldg.

355 Parkland Se Place SE, Washington image

355 Parkland Se Place SE, Washington $189,900 ▼

**Bank Owned*** BUILDING HAD A FIRE DAMAGE, view at your own risk. Seller will not be responsible for any damages/injuries that happen at the property. CASH OFFERS ONLY, ...

4 Beds
2 Baths
DCDC430846 MLS

910 Barnaby Se Street SE Unit #201, Washington image

910 Barnaby Se Street SE Unit #201, Washington — Congress Heights $94,999

Corner 2BR/1BA condo with light on 3 sides located in gated community offers open floor plan, hard wood flooring, kitchen with granite counters, SS appliances, washer/dry...

2 Beds
1 Baths
DCDC430408 MLS
Congress Heights Bldg.

7028 31st Nw Street NW, Washington image

7028 31st Nw Street NW, Washington $979,000

Very spacious rambler in the beautiful subdivision of Hawthorne. Main floor and basement total over 4,000 square feet. Two stair cases leading down to the basement. Wo...

4 Beds
4 Baths
DCDC429976 MLS

1701 16th Nw Street NW Unit #648, Washington image

1701 16th Nw Street NW Unit #648, Washington $299,900

Welcome to this spacious one bedroom at the Chastleton! Charming condo in a historic building at one of DC's best addresses. Kitchen with lots of cabinets and additional ...