Here at CondoDomain, we know that foreclosures offer our buyers tremendous savings. We have partnered with RealtyTrac to give our buyers great opportunities to save on Baltimore foreclosures.
RealtyTrac also provides pre-foreclosure and short sale information. We’re happy to present this to you and assist you in finding all the great opportunities for buyers of Baltimore foreclosures.
Looking through the data we now have on our site, here’s a few Baltimore foreclosure townhomes I really like for buyers:
Wegworth Ln Baltimore, MD 21230 $86,540
Guilford Ave Baltimore, MD 21218 $157,500 3 BR 2 Bath
Foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption.
Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue HOA dues or assessments. More details here on wikipedia.
We’ll be blogging more about Baltimore foreclosure in the weeks ahead – the laws that affect you, the buyer, the process, and of course, the tremendous opportunities.