What is the best way to find a foreclosure home in northern Virginia area?

Im looking at homes in the stafford and woodbridge area of northern va, what is the best way to go about finding foreclosures? And can you still take out a mortgage to pay for it?

By | 2013-08-27T07:19:00+00:00 August 27th, 2013|Mortgages Home Loans Interest Rate|3 Comments

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3 Comments

  1. searing August 27, 2013 at 9:01 AM - Reply

    don’t waste your time with lists, reading the paper or going to sites, they are usually wrong plus by the time they are advertised it is usually too late and while the proceedings are going on, the banks don’t want to publish this stuff. If you were late on your payment you wouldn’t want everyone knowing about it, would you?
    Contact a local reputable Real Estate Agent in the area. She/He may have some insight information or guide you better, eventually you’re going to need him/her for the purchase.
    good luck

  2. teenriodoll August 27, 2013 at 8:07 AM - Reply

    In the state of Virginia foreclosure is through a deed of trust. The sale is governed by the Code of Virginia section 55-59.1. The trustee is normally substituted by a handful of attorneys who specialize in the foreclosure process. Ten Trustees handle 90% of all foreclosure sales in Northern Virginia. The biggest are Shapiro and Burson in Fairfax, VA, 757-687- Samuel White in Virginia Beach, VA, Stephen Wood of Freidman and MacFadyen in Richmond, 804-288-0088, Equity Trustees in Alexandria, 703-548-4600. and Draper and Golberg in Leesburg, Virginia.

    The Trustees can according to the Code of Virginia make 5% of the sales amount or the amount specified in the deed of trust. The buyer at sale pays this costs. Therefore, these sales are advertised in the Washington Post, Washington Times and the Examiner Newspaper. You can find all online at http://www.washingtonpost.com, http://www.Washingtontimes.com, or http://www.Examiner.com. Click on classifieds and trustee sales and go to Prince William or Staford County.

    The sales are held at the courthouse where the property is located. In Prince William that would be the Prince William Court House in Manassas. In Stafford it would be the Stafford Courthouse off of Route 1. You want to verify the sale will be held the day before or day of as these sales are routinely cancelled. Also in the ad it will specify the amount of deposit from $5,000 to $50,000. If you are the successful bidder than you normally have about 10 to 21 days to settle. This is not the time to apply for a mortgage. Normally there are people in the house who will not let you get a appraisal. Also if you do not settle you will lose your money. You want to have your full purchase price ready prior to bidding. You can get a hard money loan, commercial loan or line of credit.

    I hope this helps. If you have any other questions you can contact me at yahoo.

    Good Luck

  3. ICHOOSETOTELLTHETRUTH August 27, 2013 at 7:50 AM - Reply

    This site has your state listings for foreclosure homes. Plus all the information and laws that govern foreclosures.

    http://foreclosures.uslandlord.com/foreclosures/va.html

    Updated: 8/4/06 6:02 AM

    Foreclosures: 549
    Preforeclosures: 51
    Bankruptcies: 7,230
    FSBOs: 1,473
    Tax Liens: 0

    They also have information on mortgages. http://mortgage.uslandlord.com/mortgage/va.html with free quotes.

    Learning Center | Virginia

    1.] Foreclosure Laws
    2.] How to Buy Foreclosures
    3.] Foreclosure Laws
    4.] Tax Lien
    5.] Bankruptcy Law
    6.] Glossary Terms

    Learn more about Virginia foreclosure laws and access America’s largest search database.

    ==EDIT==

    Each time you go onto… Web-Site your time & dates are upgraded

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