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Maryland Foreclosure Search

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Maryland Foreclosure Homes for Sale

Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (reposession) of the property securing the loan.  The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice, called a Notice of Default or Lis Pendens.  The foreclosure process can end one of four ways:

  1. The borrower/owner reinstates the loan by paying off the default amount during a grace period determined by state law.  This grace period is also known as pre-foreclosure.

  2. The borrower/owner sells the property to a third party during the pre-foreclosure period.  The sale allows the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.

  3. A third party buys the property at a public auction at the end of the pre-foreclosure period.

  4. The lender takes ownership of the property, usually with the intent to re-sell it on the open market.  The lender can take ownership either through an agreement with the borrower/owner during pre-foreclosure, via a short sale foreclosure or by buying back the property at the public auction.  Properties reposessed by the lender are also known as bank-owned or REO properties (Real Estate Owned by the lender).

The advantage of buying a foreclosure is fairly obvious - the opportunity to obtain a property for a lesser sale price.  Foreclosed properties are often neglected or even damaged intentionally by the owners when the owners cannot recover the loan value by selling on the open market.  This disadvantaged state presents a potentially substantial value to open-minded or budget conscious buyers.  Furthermore, banks are not in the business of holding onto real estate.  Their goal is to liquidate.  Being on the buying end of this scenario can be financially favorable.

There are, however, pitfalls and nuances of buying foreclosures that require considerable experience to navigate successfully.  A Realtor who is a foreclosure specialist is an absolutely key ingredient to a successful foreclosure purchase.  He or she will be able to advise you on the amount of time the process will take, as it does take longer than a normal buying transaction.  The Realtor will also be able to tell you what inspections are or are not allowed and when they must be obtained.  He or she will also help you mitigate unnecessary expenses, give you important selection considerations, and ensure you are prepared at each step that is unique to a foreclosure transaction.

Latest Maryland Foreclosure Homes for Sale

1338 E Spring Meadow   Court, Edgewood image
1338 E Spring Meadow Court, Edgewood $109,900

Come see this home and make it your own with a renovation. This home features a deck off the dining room, 2 bedrooms, 2 full bathrooms, a lower level family room with ba...

  • 2 Beds
  • 2 Baths
  • MDHR241364 MLS
2420 Beaver Crossing   Road, Edgewood image
2420 Beaver Crossing Road, Edgewood $184,900

2001 Built 3-level Townhome in move-in ready condition! This home has a total of 4BR, 2.5BA. Entry Level: Queen Sized Bedroom, full bath, and living room that could be se...

  • 4 Beds
  • 3 Baths
  • MDHR241208 MLS
122 Hunter   Court, Havre De Grace image
122 Hunter Court, Havre De Grace $175,000

Great opportunity to buy a 3 bedroom with 2.5 bath property in Havre De Grace. Spacious living room with eat in kitchen. Walk out basement. Rear deck. Home is sold As-Is....

  • 3 Beds
  • 3 Baths
  • MDHR241524 MLS
1218 Dulwich   Lane, Bel Air image
1218 Dulwich Lane, Bel Air $444,900

*****FORECLOSURE ***** THIS 4 BEDROOM, 2 FULL AND 1 HALF BATH, BRICK FRONT COLONIAL IS IN GOOD CONDITION. OFFERED "AS IS". SELLER WILL MAKE NO REPAIRS. 2 CAR ATTACHED G...

  • 4 Beds
  • 4 Baths
  • MDHR241476 MLS
726 Sequoia   Drive, Edgewood image
726 Sequoia Drive, Edgewood $55,000

***Multiple Offers Received*** All interested parties are requested to submit their highest and best offers by 12 PM on Tuesday, December 3, 2019 for consideration. See B...

  • 3 Beds
  • 2 Baths
  • MDHR241382 MLS
1542 Harford Square   Drive, Edgewood image
1542 Harford Square Drive, Edgewood $89,900

What an awesome opportunity and at awesome price! Lots of space in this townhome in need of tender, love and care. Spacious living room, eat-in kitchen with table space a...

  • 3 Beds
  • 1 Baths
  • MDHR241360 MLS
823 Lynn Lee   Drive, Aberdeen image
823 Lynn Lee Drive, Aberdeen $235,000

Buyers come check it out! Take a look at this cozy split level that features 3 large bedrooms and a possible 4th in the basement or home office. Attached garage, rear pat...

  • 3 Beds
  • 2 Baths
  • MDHR241252 MLS
1323 Merry Hill   Court, Bel Air image
1323 Merry Hill Court, Bel Air $228,000

PICTURE PERFECT TOWNHOME IN FOXBOROUGH FARMS WITH OVER 1,900 SQ. FT. OF FINISHED LIVING SPACE! Features include new paint throughout the upper levels, a spacious living ...

  • 3 Beds
  • 3 Baths
  • MDHR241296 MLS
2303 Windswept   Court, Fallston image
2303 Windswept Court, Fallston $749,900

Exceptional custom built brick front estate nestled in the Fields of Delmar community. Boasting original polished elegance and sophisticated detail in every room. Crown m...

  • 4 Beds
  • 4 Baths
  • MDHR241238 MLS
2116 Waverly   Drive, Bel Air image
2116 Waverly Drive, Bel Air $699,900

Beautiful Custom Built Stone Front Colonial with Wrap Around Porch & 3 Car Side Load Garage. 3 Finished Levels includes Basement with Outside Entrance. on 2+ Acres. F...

  • 3 Beds
  • 4 Baths
  • MDHR240850 MLS

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Bel Air, MD 21014
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