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Short Sales and Foreclosures:

As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview.

A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they owe. The lender can allow the homeowner to sell the home for less than the amount owed, freeing the homeowner from the financial predicament. On the buyer side, short sales typically take three to four months to complete and many of the closing and repair costs are shifted from the seller to the lender.

On the other hand, a foreclosure occurs when a homeowner can no longer make payments on their home so the bank begins the process of repossessing it. A foreclosure usually moves much faster than a short sale and is more financially damaging to the homeowner. After foreclosure the bank can sell the home in a foreclosure auction. For buyers, foreclosures are riskier than short sales, because homes are often bought sight unseen, with no inspection or warranty.

 

Checking Out the Latest Foreclosures

If you are in the market for a short sale, foreclosed or REO property, please contact us to get the latest list. Though we display the most recent foreclosures listed in our MLS, not all properties make it online. They sell too quickly!

To be in the know when it comes to foreclosures, I can help you keep track of the latest opportunities in Maryland and Pennsylvania. 

Foreclosures

330 Fortescue   Road, Newport image
330 Fortescue Road, Newport $310,000

DIAMOND IN THE ROUGH!! Come and take a look at this amazing property. This home features 3 beds 2/12 baths with over 20 acres of cleared land. There is an upper level ...

  • 3 Beds
  • 3 Baths
Courtesy of Keller Williams Realty Cumberland County

Listing courtesy of Keller Williams Realty Cumberland County.

712 Tulip   Street, Vineland image
712 Tulip Street, Vineland $89,900

This Cape Cod style home is located in Vineland on a dead end street. The main floor features a living room with an open stairway to the second floor, formal dining roo...

  • 3 Beds
  • 1 Baths
Courtesy of S. Kelly Real Estate LLC

Listing courtesy of S. Kelly Real Estate LLC.

4520 Plum Point   Road, Huntingtown image
4520 Plum Point Road, Huntingtown $139,000

As-is three bedroom 2 full bath Rambler on 1.20 acres. Large back deck for family get-togethers. Crawl space but has a utility room downstairs, Laundry room. HUD Owned, ...

  • 3 Beds
  • 2 Baths
Courtesy of EXIT By the Bay Realty

Listing courtesy of EXIT By the Bay Realty.

29199 Corbin   Parkway, Easton image
29199 Corbin Parkway, Easton $374,900

Are you looking for a spacious home with a nice size yard, well look no further. Close to all of the amenities Easton has to offer plus close to major highway for easy c...

  • 4 Beds
  • 4 Baths
Courtesy of Long & Foster Real Estate, Inc.

Listing courtesy of Long & Foster Real Estate, Inc..

property image
1119 Simpson Avenue, National Park $150,000

None

  • 2 Beds
  • 1 Baths
Courtesy of Old World Realty, LLC

Listing courtesy of Old World Realty, LLC.

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