FREDERICK COUNTY MD FORECLOSURES & SHORT SALES

FREDERICK COUNTY MD FORECLOSURES & SHORT SALES

There are 79 active listings of lender owned foreclosures (REO) available for purchase in the county.

Click the following URL to see the listings. Click on the listing number for full details on each property. Sort by column headings. http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93573461-58

When you are searching for homes in Maryland, you will want to use Homes Prospector at www.roykelley.com This is a service of MRIS, the regional multiple listing service, and you will find the most accurate up to date information on properties that are available for purchase. Foreclosures will be included in the results of your searches.

Most of the homes that are sold at trustee sale auctions at the court house entrance are purchased by the secured mortgage lenders. The lenders then offer the homes for sale when they become part of the REO inventory. All of the lender owned homes are listed with area agents and are available on MRIS.

Why are buyers focusing on the REO inventory? The simple reason is that is where the purchase bargains are being found. Lenders are highly motivated sellers and they reduce the prices until the properties are under contract.

What about the opportunities with short sales listings? These are the transactions that require lender approval since the proceeds will not cover the mortgage balances. Short sales take longer and more frustrations should be anticipated. Bargains can be found for patient home buyers.

There are 194 active short sale listings in Frederick County.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93573558-95

All home buyers that plan to use mortgage financing should obtain pre-approval for financing as the first step in the purchase process. First time home buyers need to move quickly to qualify for the currently available $8,000 tax credit. The settlement deadline to qualify for this incentive is November 30, 2009. Congress has not yet approved an extensionof this program.