Tagged : Bank of America RSS Feed

Found 1 blog entry tagged as "Bank of America".

A lot of investors and homebuyers ask me about buying a Washington DC foreclosure.  In this blog I will talk about the process a bank must go through to foreclose and where to search for them. 

First, you must understand that in Washington DC there are very few foreclosures on the market currently.  It has been over a year since banks have foreclosed on a property in Washington DC.  This is due to the robo signing issue(which was just resolved last week) and the mediation law that the DC council put in place in December 2011.  The mediation law forces banks to meet face to face with the borrower to prevent a Washington DC foreclosure.  In the second half of 2011 only 25 notices of default were issued by banks compared with over 1000 issued in 2010.  A…

12,764 Views, 4 Comments