The foreclosure listings for homes being foreclosed is getting larger every year, including the foreclosure listing in Alexandria, VA. The state of the economy, with the fluctuating interest rates as well the high cost of home ownership are all contributing factors in foreclosed homes. Homeowners are often having difficulty in maintaining their mortgage payments.
As hard as they may try, they end up losing their homes. When a home is foreclosed, it is sold at public auction to the highest bidder. Many people that are interested in purchasing a home look for a foreclosure listing. In Alexandria, VA, some beautiful homes available have been foreclosed.
The foreclosure listing in Alexandria, VA consists of FSBOs (for sale by owner0, Bankruptcies, REOs (real estate owned) and HUDs. When you purchase a foreclosed home, there is often a lot of paperwork. Most of the foreclosed homes are available to the highest bid at a public auction. This is usually handled judicially.
A home is usually not foreclosed until at least three consecutive payments have been missed. Prior to this, the homeowner will have been notified to make their payments or contact the bank. After 3 months, the bank will send a Notice of Intent to foreclose to the homeowner. It will list a court date that the homeowner must attend. At this time, the homeowner still has the opportunity to contact the bank to try to correct the situation.
Banks do not like starting foreclosure procedures unless they have to because there is a lot of paperwork, time and money involved in foreclosures. However, many homes are still foreclosed every day. This is evident in the large foreclosure listing in Alexandria, Va. Looking through the foreclosure listing in Alexandria, VA may help many interested homeowners find the home of their dreams at an affordable cost.
The internet as well as Virginia real estate agencies will have a full foreclosure listing. In Alexandria, VA, there are over 1,100 foreclosures in addition to many bankruptcies, pre-foreclosures and homes for sale by the owner.
Alexandria, VA is a wonderful city to live in with many attractions for everyone. Many families enjoy moving to this town for the excellent schools, hospitals, shopping opportunities and ideal size. The city is beautiful and offers events every year. One of the most popular events in Alexandria, VA is the Annual Memorial Day Jazz Festival.
Other events are the Alexandria Symphony Orchestra Children’s Festival and the Red Cross Waterfront Festival. These are just a few of the many events that make Alexandria, VA an excellent city to live. If you’re looking for an affordable home to buy, why not check out the foreclosure listing in Alexandria, VA.