MONTGOMERY COUNTY MD FORECLOSURES & SHORT SALES REPORT

MONTGOMERY COUNTY MD FORECLOSURES & SHORT SALES REPORT

There are 168 active listings of lender owned foreclosures (REO) available for purchase in Montgomery County MD

Visit the following URL to see the report. Click on the listing number to see the full property description. Sort by column headers.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93572587-986

When 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.

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. This is a very active market and well priced prices attract multiple contracts.

What about short sales? Are bargains to be found in the inventory of short sale listings? Yes, lenders have become more liberal with short sales. Short sales do take more time and more frustrations should be anticipated. Short sale transactions require third party approval. The secured lenders must approve the contracts since the proceeds will not fully cover the amounts of the mortgage loans.

There are 238 active short sale listings priced at $250,000 and below in Montgomery County.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93572635-728

There are 275 active short sale listings available at $250,000 and more in Montgomery County.

Click the following URL to see the listings:
http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1135923XDLVP&p=DE-93572732-668

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 BUYER $8,000 TAX CREDIT www.federalhousingtaxcredit.com 11/30/09 deadline for settlements. Legislation for the extension of this program has not yet passed.