Getting a Mortgage on a Foreclosure/Bank Owned Home – CAN IT BE DONE???

Getting a Mortgage on a Lehigh Valley Foreclosure/Bank Owned Home – Can it be done??

Yes!  All Day long…The question is what type of mortgage can you get?  That is the question.

When dealing with any type of large purchase you should make sure that you are working with experienced professionals all the way around.

Real Estate Sales – Is a sales business but you should weed through those fast talking sales type personalities…and look for a Real Estate agent that works more like a Real Estate Consultant instead.

This is one of the largest purchases a person makes in their life – I do not care how much you spend but next to buying a car and getting married this is the 3rd most expensive investments and just as stressful as the rest.  Interview and ask questions – make sure you know who you are working with before you make a written commitment to work with them.

Okay – So, what kind of loans can you get on a Bank Owned/Foreclosure? Well, It Depends!

Let’s talk about Residential Owner Occupied properties in this Blog.

It depends on what type of loan you are looking for: The best way to think about this is, How much do you have saved to buy a home? Are you looking to purchase a home with the least amount of money out of pocket? Do you want to avoid paying mortgage insurance?

1) I always ask my buyer’s are you looking for the least out of pocket type of loan? If so, then there are a few options.  There is the typical FHA loan and this is a loan for owner occupied properties – with this loan you only need 3.5% down and if the property you want to purchase has a bad roof or mold in the basement or even the cooper piping has been ripped out – you can get an FHA 203K Rehab loan and you will be set.

2) If you are looking for purchase a home anywhere above North of Coplay, west of Macungie, North East including Bath and above than the property may be eligable for USDA Rural Housing loan which is 100% financing. This means you do not have to put anything down to get the loan like with FHA you must put 3.5% down to get the loan.

3) If you have saved money for your purchase and/or you are selling a home and plan on putting a significant amount of money down on your purchase then you best bet is a conventional loan – There are less restrictions on this type of loan but depending on the condition of the property you still may need a renovation loan.

4) Are you a First Time Home Buyer? Do you find it difficult to save money and will you have less then $5000 in savings/checking but you can pay your monthly obligations on time and you currently live in Lehigh County and want to purchase a home in Lehigh County -Depending on your Family household monthly income, you could qualify for a special program through the Neighborhood Housing Services of the Lehigh Valley – They work with 2 local mortgage companies that will help you with a 2nd loan that will give you 5% down and 6% closing costs necessary to purchase a home.  If you keep the home for 5 years – this loan will be forgiven!! There are also programs for Northampton counties but no loans are forgiven there.

Sometimes – repairs needed are unknow until you have a professional home inspector out to the property you plan on purchasing – When you make an offer on a property you typically have a minimum of 7 to 10 days to conduct due diligence or inspections to make sure there isn’t anything about the property that you do not accept – an unknown material defect like Mold, Roof, defective Heating, plumbing systems etc.  Basically, anything that is going to cost over $2000.00 total to replace/repair.

Looking for More Details: Click here Lehigh Valley Down payment and Closing cost assistance programs.

Hope this Blog was helpfu.

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Lehigh Valley Short Sales – Available Short Sales Listings as of October 20th, 2012

Lehigh Valley Short Sales Listings as of October 20th, 2012.

Available Short Sale Listings in Lehigh & Northampton County ONLY.

  • We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Short Sale Listings that fit your specific needs…Please Contact us and we will set you up for FREE.

  • Listings are pulled by Lehigh & Northampton Counties and Separated by Detached/Single Family Homes and All other property Types – The listings are in order by list price least to greatest.  If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Lehigh County Detached/Single Family Short Sale Listings:  81 Properties – Link Here

  • Lehigh County ALL Other Property Types – Short Sale Listings: 108 Properties – Link Here

  • Northampton County Detached/Single Family Short Sale Listings:  76  Properties – Link Here

  • Northampton County ALL Other Property Types – Short Sale Listings: 69 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Lehigh Valley Bank Owned/Foreclosures as of October 20th, 2012

Lehigh Valley Bank Owned/Foreclosures Listings as of October 20th, 2012.

  • We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE.

  • Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Allentown, Southern Lehigh School District Listings:   32 Properties – Link Here

  • Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 19 Properties – Link Here

  • Easton, Wilson, Bangor Area School District Listings: 23  Properties – Link Here

  • Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 19 Properties – Link Here

  • East Penn & Parkland, Salisbury Area School District Listings: 14 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Lehigh Valley Short Sales – Available Short Sales Listings as of June 5th, 2011

Lehigh Valley Short Sales Listings as of June 5th, 2011.

Available Short Sale Listings in Lehigh & Northampton County ONLY.

  • We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Short Sale Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

  • Listings are pulled by Lehigh & Northampton Counties and Separated by Detached/Single Family Homes and All other property Types – The listings are in order by list price least to greatest.  If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Lehigh County Detached/Single Family Short Sale Listings:  94 Properties – Link Here

  • Lehigh County ALL Other Property Types – Short Sale Listings: 98 Properties – Link Here

  • Northampton County Detached/Single Family Short Sale Listings:  102  Properties – Link Here

  • Northampton County ALL Other Property Types – Short Sale Listings: 43 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Lehigh Valley Bank Owned/Foreclosures as of June 3rd, 2011

Lehigh Valley Bank Owned/Foreclosures Listings as of June 3rd, 2011.

  • We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE & No Pressure!

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

  • Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Allentown, Southern Lehigh School District Listings:   54 Properties – Link Here

  • Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 36 Properties – Link Here

  • Easton, Wilson, Bangor Area School District Listings: 47 Properties – Link Here

  • Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 32 Properties – Link Here

  • East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer summary report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Lehigh Valley Bank Owned/Foreclosures as of May 16, 2011

Lehigh Valley Bank Owned/Foreclosures Listings as of May 16, 2011.

  • We will post Free Monthly links to properties that are Available as of the above date. The Report is in Summary format – If you are interested in a full report – Please contact me and we can work together to get you what you need. NO CHARGE.

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

  • Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Allentown, Southern Lehigh School District Listings: 54 Properties – Link Here

  • Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 37 Properties – Link Here

  • Easton, Wilson, Bangor Area School District Listings: 51 Properties – Link Here

  • Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 30 Properties – Link Here

  • East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available UPON Request. This report is provided by running a consumer report from the Lehigh Valley MLS.

This information is provided to you by Moriah Martin, Real Estate Agent with Prudential Regency real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property.

Lehigh Valley PA Bank Owned/Foreclosure Listings as of October 4, 2010

Lehigh Valley Bank Owned/Foreclosures Listings as of October 4, 2010.

  • We will post Free Monthly links to properties that are Available as of the above date.

  • If you would like to get Notified by Email when I add content to this site…sign up to the RIGHT.
  • If you would like us to set you up on a Daily email list of Lehigh Valley Foreclosed/Bank Owned Listings that fit your specific needs…Please Contact us and we will set you up for FREE or you can Request a Search HERE.

  • You can View a DEMO Lehigh Valley MLS Search HERE

  • Listings are pulled by School District and we have provided the most popular Links..If you need information on another area in the Lehigh Valley, Please contact us.

Follow Link to Access Report

  • Allentown, Southern Lehigh School District Listings: 74 Properties – Link Here

  • Bethlehem, Nazareth, Whitehall/Coplay School District Listings: 36 Properties – Link Here

  • Easton, Wilson, Bangor Area School District Listings: 40 Properties – Link Here

  • Northampton, Catasauqua, Northwestern, Northern Lehigh Area School District Listings: 20 Properties – Link Here

  • East Penn & Parkland, Salisbury Area School District Listings: 16 Properties – Link Here

Important Real Estate Disclosures

Moriah Represents the Buyer for the Listings above NOT the seller. The Seller’s agent information is available on all Reports.

This information is provided to you by Moriah Martin, Real Estate Agent with RE/MAX real estate through a report generated by the Lehigh Valley MLS system owned by The Lehigh Valley Association of Realtors.

This information is deemed reliable but not guaranteed. Changes to property Status and/or listing Prices can change on a Daily basis…please contact Moriah Martin for any questions on the current status and/or Listing Price of a property