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

4424 1st Ne Place NE Unit #11, Washington image

4424 1st Ne Place NE Unit #11, Washington — Brookland $244,900

Don't miss out on this incredibly affordable opportunity for this 1 Bedroom, 1 Bath condo in one of the city's most sought after neighborhoods, Brookland! Being nicely po...

1 Beds
1 Baths
DCDC464748 MLS
Brookland Bldg.

5721 Potomac Nw Avenue NW, Washington image

5721 Potomac Nw Avenue NW, Washington $1,300,000

Bank-Owned foreclosure. CASH ONLY- This is an auction property. Auction takes place from 4/4/2020-4/6/2020 on xome.com. GORGEOUS 5 BR 5.5 BA HOME PERCHED HIGH ON A HILL ...

5 Beds
6 Baths
DCDC464378 MLS

4403 Hayes Ne Street NE, Washington image

4403 Hayes Ne Street NE, Washington $229,500 ▼

Great location within blocks of the Metro Station. 3-Bedroom 1 Full and 1 Half Bath. Off Street Parking. This is a contract assignment deal. closing on or before April 1...

3 Beds
2 Baths
DCDC464146 MLS

4911 Kansas Nw Avenue NW, Washington image

4911 Kansas Nw Avenue NW, Washington $550,000

SOLD STRICTLY AS-IS. Great Opportunity to Own This Townhouse. Front Porch, Fenced Backyard. Waiting for your Finishing Touches! Close proximity to Rock Creek Park. 1 Mile...

3 Beds
2 Baths
DCDC463018 MLS

38 53rd Se Street SE, Washington $315,000

Very spacious end unit row house in fabulous location just waiting for your renovations! 3 bedrooms and 1.5 baths! Close to public transportation and commuter routes.

3 Beds
2 Baths
DCDC463722 MLS

834 50th Ne Place NE, Washington $379,900

Welcome to the Pride of Deanwood. This little gem offers closed in front porch, enter onto the shinney solid hardwood floors which are throughout the house. Enjoy the re...

2 Beds
2 Baths
DCDC463008 MLS

2916 Stephenson Nw Place NW, Washington image

2916 Stephenson Nw Place NW, Washington $824,900

REO BANK OWNED SINGLE FAMILY HOME 3 BEDROOM 2.5 BATH, NEEDS WORK, PERFECT FOR AN INVESTOR. TO BE SOLD AS-IS. Non-cash buyers can prequal w/ Carrington Mortgage Services ...

3 Beds
3 Baths
DCDC462986 MLS

1440 N Nw Street NW Unit #1002, Washington image

1440 N Nw Street NW Unit #1002, Washington — Old City Ii $294,900 ▲

Newly renovated top floor unit in the heart of the city! Brand new everything in this open layout studio with unbeatable natural light! The kitchen offers new stainless s...

1 Baths
DCDC462840 MLS
Old City Ii Bldg.

477 Valley Se Avenue SE, Washington image

477 Valley Se Avenue SE, Washington $280,000

This solid brick 3BR/2BA semi-detached home is located in the Congress Heights community. Home offers some hardwood flooring, full basement and off street parking (carpo...

3 Beds
2 Baths
DCDC460702 MLS

240 M Sw Street SW Unit #E111, Washington image

240 M Sw Street SW Unit #E111, Washington — R.L.A. Sw $251,800

Incredible location makes this a fantastic pickup! Located in one of the hottest areas in the city- see and buy this one bedroom gem in the Carrollsburg. Set back from bu...