Bellingham Washington Foreclosure List
We can’t advertise foreclosure homes on this websites, but we can e-mail a list of the newest foreclosure listings in Bellingham every morning. If you would like to receive free foreclosure listings, just leave a comment below. Your information will be 100% confidential and we will not sell your e-mail or phone number to any third party.
The following are just a few short notes about foreclosures and short sales.
Washington State continues to have one of the lowest foreclosure rates in the nation.
Definitions
A Short Sale –is a sale that does not produce sufficient funds to cover the existing monetary encumbrances against the Property, closing costs, real estate commissions, and other financial requirements of closing (“Seller Costs”). Buyer and Seller acknowledge that the purchase price is insufficient to cover Seller Costs and that this Agreement constitutes a “Short Sale.”
A Foreclosure – is the forced sale of Real Estate to pay off a loan on which the owner of the property has defaulted.
A Bank Owned Home – Is a home that has been foreclosed & did not sell on the courthouse steps. The bank then takes possession & actively markets the home for sale with a local Realtor.
Jodith said,
January 30, 2009 @ 8:00 am
What’s the result of a short sale? Is the new owner then responsible for what is still owed on the house in order to remove any encumbrances?
Ryan Martin said,
January 30, 2009 @ 8:08 am
@Jodith ~ Not necessarily. The seller’s real estate agent or attorney negotiate with the bank to see if they will write off a loss. If the property is worth less than the bank is owed the bank isn’t going to be excited about taking the property back. The bank still faces the same selling costs as a typical homeowner, so it can be to their advantage to just accept less. It really just depends on the situation.
Richard said,
February 3, 2009 @ 5:10 pm
Why do you think that Washington State is doing so much better then the nation? Did they not go up as much in the boom years? Is there job base better?
Ryan Martin said,
February 3, 2009 @ 5:21 pm
Richard ~ I think that there are several factors and you just suggested a couple of them. I think that there was room for appreciation prior to the boom. I think that the type of jobs make a difference too. There are not very many large private employers in Bellingham and they few that we do have are very stable. The largest employers in Bellingham are publicly funded. There are also a lot of small businesses and retired folks in Bellingham.
Jeff Coulter said,
February 10, 2009 @ 1:47 pm
Could you send me a scanned list of Foreclosures for Bellingham and Whatcom County?
Thanks very much.
Jeff Coulter
Rick NHS said,
February 13, 2009 @ 1:24 pm
While I’m not too familiar with the consequences of short-selling, it is my understanding that a short-sale is far more favorable (in regards to credit ratings/report) over a foreclosure. But a short-sale still negatively affects one’s score…
Joey Dodd said,
May 20, 2009 @ 12:26 am
Please e-mail me the foreclosure listings. Thank you.