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Foreclosure - What is it?

A Foreclosure is a situation in which a homeowner is unable to make full principal and interest payments on his/her mortgage , which allows the lender to seize the property, evict the homeowner and sell the home, as stipulated in the mortgage contract. One month after the homeowner misses a mortgage payment, he/she is in default and will be notified by the lender. Three to six months after the homeowner misses a mortgage payment , assuming the mortgage is still delinquent and the homeowner has not made up the missed payments within a specified grace period, the lender will begin to foreclose. The farther behind the borrower falls, the more difficult it becomes to catch up, since lenders add fees for payments that are 10 to 15 days late.

Foreclosed Properties in Philadelphia Area

2352 N Bouvier St, Philadelphia image
2352 N Bouvier St, Philadelphia $55,000

Great opportunity for this spacious Two Story Brick row located in the Tacony section of Philadelphia. Property features spacious living room, dining room, kitchen with w...

  • 3 Beds
  • 1 Baths
Courtesy of Elfant Wissahickon-Mt Airy

Listing courtesy of Elfant Wissahickon-Mt Airy.

2723 W Silver St, Philadelphia image
2723 W Silver St, Philadelphia $59,000 ▼

Great property on a quiet block in up and coming Allegheny West neighborhood! Porch front row home featuring a large living / dining room combo. Kitchen that exits to sma...

  • 2 Beds
  • 1 Baths
Courtesy of RE/MAX Prime Real Estate

Listing courtesy of RE/MAX Prime Real Estate.

6014 Spring St, Philadelphia image
6014 Spring St, Philadelphia $78,000

Porch front Straight through Row home on a great tree lined block of West Philadelphia!!! Get it while it's HOTTTTT!!! Property features a covered front porch, nice siz...

  • 3 Beds
  • 2 Baths
Courtesy of RE/MAX Prime Real Estate

Listing courtesy of RE/MAX Prime Real Estate.

2542 N Cleveland St, Philadelphia image
2542 N Cleveland St, Philadelphia $79,900

To be purchased sight unseen. Occupied property, will be responsibility of buyers to keep or remove occupants. Bank owned. Cash offers only. Call Listing agent, Jeff, wi...

  • 3 Beds
  • 1 Baths
Courtesy of First Heritage Realty Alliance, LLC

Listing courtesy of First Heritage Realty Alliance, LLC.

8072 Erdrick St, Philadelphia image
8072 Erdrick St, Philadelphia $90,000 ▼

Large residential lot, great for new construction, single, duplex, or quadraplex building.

Courtesy of Shel-Sone Realty, Inc.

Listing courtesy of Shel-Sone Realty, Inc..

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The data relating to real estate for sale on this website appears in part through the TReND Internet Data Exchange (IDX) program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Real Estate Company participates, and is provided by TReND through a licensing agreement. Real estate listings held by brokerage firms other than Real Estate Company are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
All information provided is deemed reliable but is not guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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