Philadelphia Foreclosures and REO

Search Philadelphia Foreclosures

Search ALL Philadelphia Foreclosures on the map below. Use your mouse to drag, navigate and search Philadelphia Foreclosures .


See all Philadelphia Foreclosures.
(all data current as of 1/21/2015)

  1. 3 beds, 1 full bath
    Home size: 1,078 sq ft
    Lot size: 1,515 sqft
    Year built: 1916
    Listing with: BHHS Fox & Roach-Center City Walnut
  2. 3 beds, 1 full bath
    Home size: 1,226 sq ft
    Lot size: 1,125 sqft
    Year built: 1930
    Listing with: Walter M Wood Jr Inc
  3. 3 beds, 1 full bath
    Home size: 1,296 sq ft
    Lot size: 1,590 sqft
    Year built: 1935
    Listing with: Elite Real Estate Management
  4. 3 beds, 1 full, 1 part baths
    Home size: 1,629 sq ft
    Lot size: 1,138 sqft
    Listing with: RE/MAX Eastern-Philadelphia-Frankford
  5. 1 bed, 1 full bath
    Home size: 828 sq ft
    Year built: 2008
    Parking spots: 1
    Listing with: Premier Real Estate Inc
  6. 0 beds, 1 full bath
    Home size: 394 sq ft
    Year built: 1945
    Listing with: Elfant Wissahickon-Mt Airy
  7. 3 beds, 1 full bath
    Home size: 1,020 sq ft
    Lot size: 943 sqft
    Year built: 1928
    Parking spots: 1
    Listing with: RE/MAX Prime Real Estate
  8. 2 beds, 2 full baths
    Home size: 1,407 sq ft
    Listing with: Coldwell Banker Preferred-Old City
  9. 3 beds, 1 full bath
    Home size: 948 sq ft
    Lot size: 711 sqft
    Year built: 1925
    Parking spots: 1
    Listing with: Connor & Connor REO
  10. 3 beds, 1 full bath
    Home size: 1,098 sq ft
    Lot size: 900 sqft
    Year built: 1930
    Listing with: Precise Realty Inc
  11. 3 beds, 1 full bath
    Home size: 1,320 sq ft
    Lot size: 1,350 sqft
    Year built: 1920
    Listing with: Connor & Connor REO
  12. 3 beds, 1 full, 1 part baths
    Home size: 1,269 sq ft
    Lot size: 768 sqft
    Year built: 1925
    Listing with: Alpha Realty Group
  13. 2 beds, 1 full bath
    Home size: 728 sq ft
    Lot size: 616 sqft
    Year built: 1911
    Listing with: Carrington Real Estate Services LLC
  14. 3 beds, 1 full bath
    Home size: 1,114 sq ft
    Lot size: 945 sqft
    Year built: 1949
    Listing with: RE/MAX Prime Real Estate
  15. 2 beds, 1 full bath
    Home size: 948 sq ft
    Lot size: 728 sqft
    Year built: 1924
    Listing with: Alpha Realty Group
  16. 0 beds, 0 baths
    Home size: 1,470 sq ft
    Lot size: 770 sqft
    Year built: 1934
    Listing with: Vihi Realty Co.
  17. 3 beds, 1 full bath
    Home size: 1,120 sq ft
    Lot size: 701 sqft
    Year built: 1915
    Listing with: Vihi Realty Co.
  18. 4 beds, 1 full bath
    Home size: 1,520 sq ft
    Lot size: 1,160 sqft
    Year built: 1915
    Listing with: Hampton Preferred Real Estate, Inc
  19. 3 beds, 1 full bath
    Home size: 1,080 sq ft
    Lot size: 945 sqft
    Year built: 1934
    Listing with: Vihi Realty Co.
  20. 2 beds, 2 full, 1 part baths
    Home size: 2,300 sq ft
    Year built: 1984
    Parking spots: 2
    Listing with: Elfant Wissahickon-Mt Airy
  21. 0 beds, 0 baths
    Home size: 2,052 sq ft
    Lot size: 800 sqft
    Year built: 1915
    Listing with: Carrington Real Estate Services LLC
  22. 1 bed, 1 full, 1 part baths
    Home size: 2,052 sq ft
    Lot size: 800 sqft
    Year built: 1915
    Listing with: Carrington Real Estate Services LLC
  23. 3 beds, 2 full baths
    Home size: 960 sq ft
    Lot size: 1,600 sqft
    Year built: 1954
    Listing with: Elfant Wissahickon-Mt Airy
  24. 4 beds, 1 full bath
    Home size: 1,830 sq ft
    Lot size: 1,272 sqft
    Listing with: Coldwell Banker Preferred-Old City
  25. 2 beds, 1 full bath
    Home size: 820 sq ft
    Lot size: 672 sqft
    Year built: 1924
    Listing with: Premier Real Estate Inc
  26. 3 beds, 1 full bath
    Home size: 1,470 sq ft
    Lot size: 1,120 sqft
    Year built: 1925
    Listing with: Gamba & Levin Real Estate, LLC
  27. 3 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 896 sqft
    Listing with: RE/MAX Prime Real Estate
  28. 7 beds, 3 full baths
    Home size: 2,560 sq ft
    Lot size: 1,966 sqft
    Year built: 1914
    Listing with: Elfant Wissahickon-Mt Airy
  29. 3 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 1,240 sqft
    Listing with: RE/MAX Prime Real Estate
  30. 1 bed, 1 full, 1 part baths
    Home size: 1,138 sq ft
    Year built: 1914
    Parking spots: 1
    Listing with: Connor & Connor REO

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

Philadelphia Foreclosures

Philadelphia Foreclosures

Intro To Philadelphia Foreclosures and Short Sales

Ask even the least experienced real estate novice and he or she will tell you that the latest trend in the real estate market are Philadelphia Foreclosures and Philadelphia short sales.  Philadelphia Foreclosures have been hot since the housing market crash because buyers believe that they will be able to purchase homes at deeply discounted prices.  This article will give a brief into to Philadelphia Foreclosures  and other types of distressed properties.

Distressed Property – A distressed property is a property in which the borrower (home owner) begins missing monthly mortgage payments and has defaulted on his promissory note.  For real estate purposes short sales,Philadelphia Foreclosures, and REOs qualify as distressed properties.  Philadelphia Foreclosures and other distressed properties typically sell for a price below fair market value.

Short Sale – A short sale is any sale of real estate in which the proceeds from the sale of the property are less than the outstanding debt on the property.  A short sale occurs when the debt holder agrees to release all liens against the property in exchange for an amount less than the total amount owed by the owner.

Philadelphia Foreclosures – A foreclosure is actually a legal process that occurs whenever a lender, usually a bank, attempts to recover the balance of a loan from a borrower (homeowner) who has ceased paying his or her debt.  At settlement buyers sign both a promissory note and a mortgage.  The promissory note is the contract that governs the terms of borrowed money and it includes things like the amount being borrowed, the interest rate and the repayment schedule.  The mortgage is the document that puts the property being purchased as collateral for repayment of the loan.  If the terms of the promissory note are not met the lender can use the mortgage to foreclose on the property and gain possession.  Once the lender has possession of the foreclosed property the lender will usually put the property up for sale as a Philadelphia Foreclosures and keep the proceeds from the sale.

REO – REO or “real estate owned” refers to foreclosed properties that are owned by banks.  Philadelphia REO is synonymous with Philadelphia Foreclosures. Once a borrower misses one or more monthly mortgage payments the lender will assess the amount of equity in the property and decide if a short sale is appropriate. If the property does not sell as a short sale and subsequently does not sell at sheriff’s sale the lender retakes possession of the property and it becomes part of the bank’s REO inventory.

About The Author: Understanding the process of buying Philadelphia Foreclosures can seem daunting but is really pretty simple if you read and follow this advice from Philadelphia Real Estate expert Frank L. DeFazio. Learn more about Philadelphia Foreclosures?