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

3378 Alden Pl Ne, Washington $345,000 ▼

Excellent opportunity River Terrace! This home is situated on a lovely lot with a grassy front yard. Home features a traditional floor plan with the main hosting the livi...

2 Beds
1 Baths
DCDC2098502 MLS

2507 I St Nw, Washington $1,799,900

Rarely available three-level townhome in Foggy Bottom just blocks from the GW campus. Amazing opportunity awaits by designing your dream home or invest in an income prod...

4 Beds
5 Baths
DCDC2097460 MLS

2449 P St Nw, Washington $1,999,900

Nestled in historic Georgetown, 2449 P St NW presents the perfect opportunity to build your dream home! This three-level rowhome is ideally situated overlooking Rose Par...

3 Beds
3 Baths
DCDC2097458 MLS

2605 Douglass Rd Se Unit #401, Washington image

2605 Douglass Rd Se Unit #401, Washington — Barry Farms $304,900

VERY NICE! Top floor, Corner unit with balcony and fireplace, lots of windows, storage, W/D in the unit. Property is in move in ready condition: freshly painted, new carp...

3 Beds
2 Baths
DCDC2096870 MLS
Barry Farms Bldg.

1925 Lawrence St Ne, Washington $746,900

Located in the Woodridge subdivision of DC on a tree lined street. Home is in need of some work but has good sweat equity. Home had a recent flood in the basement but ...

5 Beds
3 Baths
DCDC2095450 MLS

919 Evarts St Ne, Washington $849,900 ▼

*$50k price adjustment* HUGE expansion and added value opportunity! This is a by-right conversion to a SEVEN-UNIT condo or apartment building. The previous owner has deve...

DCDC2093846 MLS

206 36th St Se, Washington $314,900 ▼

Best Deal In Town! Semi-detached all-brick home at a price of a condo! Property features front porch, two bedrooms and one full bathroom, formal dining room, full unfinis...

2 Beds
1 Baths
DCDC2094930 MLS

4960 Just St Ne, Washington $264,900 ▼

Incredible opportunity! Semi-Detached Home with yard with NO condo fees. Updated in the recent years and ready to move in to! Minutes away from the Metro, an easy commute...

1 Beds
1 Baths
DCDC2093998 MLS

1345 V St Nw, Washington $1,200,000

New fully gut renovated 3-bedroom 3 full bathroom single family row home one block from the popular intersection of 14th and U St. NW. New hardwood floors throughout. T...

3 Beds
3 Baths
DCDC2093796 MLS

2220 Q St Nw, Washington $1,995,000 ▼

A contemporary styled Alley House surrounded by more traditional homes. The original design combined two carriage houses and was built with entertainment in mind. Fe...