Foreclosure's are properties owned by mortgage lenders because the original owner defaulted on the loan payments. Generally speaking, the mortgage lender initiates the foreclosure process after three months of non-payment by the borrower. Milia Team Realty specializes in representing buyers and investors of the following 3 types of foreclosure properties:
Foreclosure's usually represent great deals on housing, but are by no means for the faint of heart. Buyers and investors of foreclosure's are typically (but not always) purchasing the property with cash, or have a lot of cash on hand to handle the repairs and renovations that most foreclosure properties require. Traditional Conventional, FHA and VA financing usually will not work with a foreclosed property, because the typical condition of a foreclosure will not pass the strict appraisal/inspection process associated with Conventional, FHA and VA loan programs. But if cash is not an option, other renovation loan programs exist such as FHA 203k and the Homepath Renovation Mortgage (for use on Fannie Mae Foreclosures only). Some of Milia Team Realty's trusted loan officers also offer Conventional Renovation Loans, contact us directly for details on these programs.
Rural setting in Lower Oxford Township surrounded by farmland. This 2-story Farmhouse, deeded 1865 and built in the 1700's, has old-world charm. Open porch, living roo...
Listing courtesy of C21 Pierce & Bair-Kennett.
INVESTMENT OPPORTUNITY !!! Three bedroom, one bath rancher with full basement, large deck, fenced rear yard, and parking pad off the alley in back. *** HUD Case #241...
Listing courtesy of EXIT Preferred Realty.
Nice 2 bedrooms, 2 bath end unit lower level condo located in desirable Brittany Commons. Master Bathroom and rear porch! Quick access to Rt. 38, Rt 73 and 295. Home is ...
Listing courtesy of BHHS Fox & Roach-Moorestown.
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