MONTGOMERY COUNTY, MARYLAND

LENDER OWNED FORECLOSURES
REO REPORT FROM ROY KELLEY & ASSOCIATES

(Rev. 2/06/09 - Contact us for further daily price reductions.)

Roy Kelley, RE/MAX Realty Group, Gaithersburg, MD 301-921-4569 roykelley@mris.com

REO homes are foreclosures owned by lenders and other entities. We represent clients as exclusive buyer agents. The disclosures that are required for home buyers in Maryland will be provided when you meet with us. Buyers must have pre-approval letters for mortgage financing. Email us for a referral to a lender. The following are available REO homes. Prices are reduced until they are sold. Complete information and pictures are available by email.

Freddie Mac: 1805 Alberti Dr., Glen Haven, Silver Spring 20902 3 BR/2.5 BA $338,350 SF
HomeEq Servicing: 11550 Aldburg Way, Germantown 20876 3 BR/2.5 BA $153,300 TH
REO: 13213 Aleutian Ave., Twinbrook, Rockville 20851 4 BR/2 BA $302,075 SF REDUCED FROM $317,950
Bank of New York: 14611 Almanac Dr., Silverwood, Burtonsville 20866 3 BR/3.5 BA $262,500 TH REDUCED FROM $269,900
Countrywide: 13612 Ambassador Dr., Landing Glen, Germantown 20874 2 BR/2.5 BA $184,900 TH REDUCED FROM $254,900
REO: 13632 Ambassador Dr., Landing Glen, Germantown 20874 3 BR/2.5 BA $199,900 TH REDUCED FROM $224,900
REO: 20425 Ambassador Ter., Landing Glen, Germantown 20874 2 BR/1.5 BA $199,900 TH

REO: 9700 Ambergate Ct., The Plantations, Gaithersburg 20882 3 BR/1.5 BA $189,900 TH

Wells Fargo Bank: 12103 Amber Ridge Cir., Milestone Center, Germantown 20876 4 BR/3.5 BA $299,000 Gar TH REDUCED FROM $315,000

IndyMac Bank: 11505 Amherst Ave. #1, Sierra Landing, Silver Spring 20902 2 BR/1 BA $163,900 Condo REDUCED FROM $174,900

Countrywide: 8347 Amity Cir., Hamlet North, Gaithersburg 20877 3 BR/2.5 BA $189,900 TH Condo REDUCED FROM $306,900

REO: 17206 Amity Dr., Mill Creek South, Derwood 20855 4 BR/3.5 BA $389,900 SF

REO: 17705 Amity Dr. #1-C, Hamlet North, Gaithersburg 20877 3 BR/2.5 BA $179,900 TH Condo

REO: 24 Anna Ct. #285, Newport Estates, Gaithersburg 20877 3 BR/3.5 BA $109,900 TH Condo

Bank of New York: 11412 Applegrath Way, Brandermill, Germantown 20876 3 BR/2 FB/2 HB $164,900 TH REDUCED FROM $199,900

REO: 1707 Arcola Ave., Wheaton Out, Silver Spring 20902 3 BR/2.5 BA $349,900 SF REDUCED FROM $400,000

Deutsche Bank: 9604 Avenel Rd., Oakview, Silver Spring 20903 2 BR/2 BA $230,000 SF

Freddie Mac: 9010 Bannister Ln., Quail Valley, Gaithersburg 20879 4 BR/2 BA $299,900 SF REDUCED FROM $314,900
U.S. Bank: 19108 Barksdale Ct., Gunners View, Germantown 20874 4 BR/2.5 BA $353,500 SF REDUCED FROM $369,000
Freddie Mac: 14352 Beaker Ct., Silver Spring Country Club, Burtonsville 20886 2 BR/1 FB/2 HB $222,000 TH
Wells Fargo Bank: 3842 Bel Pre Rd. #12, Grand Bel Manor, Silver Spring 20906 2 BR/2 BA $89,100 Condo REDUCED FROM $112,900
Fannie Mae: 3932 Bel Pre Rd. #2, Grand Bel, Silver Spring 20906 1 BR/1 BA $79,900 Condo REDUCED FROM $114,000
Bank of New York: 3942 Bel Pre Rd. #7, Grand Bel, Silver Spring 20906 4 BR/2 BA $119,900 Condo REDUCED FROM $129,900

Avelo Mortgage: 3944 Bel Pre Rd. #5, Grand Bel, Silver Spring 20906 2 BR/2 BA $80,000 Condo REDUCED FROM $149,900
LaSalle Bank: 3954 Bel Pre Rd. #1, Grand Bel, Silver Spring 20906 2 BR/2 BA $65,000 Condo
Washington Mutual Bank: 3976 Bel Pre Rd. #2, Grand Bel, Silver Spring 20906 2 BR/2 BA $64,900 Condo REDUCED FROM $74,900
REO: 4512 Bennion Rd., Veirs Mill Village, Silver Spring 20906 3 BR/2 BA $199,900 SF
Bank of New York: 16 Big Acre Square #22-B, Shady Grove Village, Gaithersburg 20878 3 BR/1 BA $204,900 TH REDUCED FROM $239,900
Chase Home Finance: 12004 Birdseye Ter., Gunners Lake Village, Germantown 20874 2 BR/2 BA $167,500 TH REDUCED FROM $214,900
REO: 12603 Black Saddle Ln., The Colony, Germantown 20874 3 BR/1.5 BA $209,900 TH REDUCED FROM $249,900
Deutsche Bank: 9200 Bluebird Ter., Quail Valley, Gaithersburg 20879 3 BR/2 FB/2 HB $192,000 TH REDUCED FROM $209,900

REO: 12029 Bluhill Rd., Conn. Ave. Estates, Silver Spring 20902 3 BR/1 BA $174,900 TH REDUCED FROM $204,900

Freddie Mac: 12221 Bond St., Conn. Ave. Estates, Silver Spring 20902 5 BR/2 BA $256,500 SF REDUCED FROM $264,620

Deutsche Bank: 902 C Bonifant St., The Lofts, Silver Spring 20910 2 BR/2 BA $320,000 Condo

Countrywide: 116 Bonifant Rd., Silver Spring 20905 3 BR/2.5 BA $365,900 SF REDUCED FROM $389,900

Countrywide: 605 Bonifant Rd., Stonegate, Silver Spring 20905 5 BR/3 BA $407,900 SF REDUCED FROM $467,900

REO: 13102 Brahms Ter., Tanglewood, Silver Spring 20904 3 BR/2.5 BA $269,900 TH REDUCED FROM $285,900

REO: 9102 Bramble Bush Ct., Hunters Woods, Gaithersburg 20879 3 BR/2.5 BA $165,850 TH

REO: 9779 Brassie Way, Thomas Choice West, Montgomery Village 20886 3 BR/2 BA $160.000 TH

Freddie Mac: 9781 Brassie Way, Thomas Choice West, Montgomery Village 20886 3 BR/2 BA $164,900 TH REDUCED FROM $192,500
Countrywide: 12204 Braxfield Ct.#10, Bethesda Park, Rockville 20852 3 BR/1.5 BA $198,900 Condo Condo Fee: $512/mo.
Bank of America: 12309 Braxfield Ct. #12, Bethesda Park, Rockville 20852 2 BR/1 BA $171,000 Condo REDUCED FROM $190,000
REO: 17082 Briardale Rd., Mill Creek South, Derwood 20855 4 BR/2.5 BA $369,900 SF
REO: 14502 Briarwood Ter., Manor Woods, Rockville 20853 $190,990 Vacant Lot
HSBC Mortgage Services: 12802 Brightwell Dr., Clarksburg Town Center, Clarksburg 20871 3 BR/2.5 BA $324,900 Gar TH Stone Front
REO: 1501 Briggs Chaney Rd., Colesville Outside, Silver Spring 20905 5 BR/2 BA $277,900 SF
REO: 1117 Broadwood Dr., Rockcrest, Rockville 20851 3 BR/2 BA $249,900 SF
REO: 9886 Brookridge Ct., McKendrie, Montgomery Village 20886 4 BR/2.5 BA $109,900 TH
Homesales, Inc.: 24 Bryants Nursery Rd., Colesville Outside, Silver Spring 20905 3 BR/1 BA $354,900 SF REDUCED FROM $399,900
Washington Mutual Bank: 406 Burgundy Dr., Maryvale, Rockville 20850 3 BR/2 BA $180,500 SF REDUCED FROM $189,900
Fannie Mae: 19536 Burlingame Way, Stedwick Townhouses, Montgomery Village 20886 3 BR/1.5 BA $179,900 TH REDUCED FROM $249,900
REO: 24108 Bush Hill Rd., The Plantations, Gaithersburg 20882 4 BR/2.5 BA $280,000 SF
Deutsche Bank: 18016 Cactus Ct., Laytonia, Gaithersburg 20877 4 BR/1.5 BA $169,000 SF REDUCED FROM $265,000
REO: 5 Calypso Ct., Flower Hill, Gaithersburg 20879 4 BR/3 FB/2 HB $359,900 SF

REO: 9821 Canal Rd., Whetstone, Montgomery Village 20886 4 BR/2.5 BA $419,821 SF REDUCED FROM $425,000

REO: 9908 Canvasback Way, Damascus Valley Park, Damascus 20872 2 BR/2 BA $164,500 TH REDUCED FROM $192,500

U.S. Bank: 14513 Carona Dr., Naples Manor, Silver Spring 20905 3 BR/2.5 BA $367,400 SF REDUCED FROM $407,000
U.S. Bank: 3605 Castle Ter. #115-98, Ventura, Silver Spring 20904 3 BR/2.5 BA $159,900 TH REDUCED FROM $179,900
Deutsche Bank: 3722 Castle Ter. #119-13, Ventura, Silver Spring 20904 3 BR/2.5 BA $164,900 TH REDUCED FROM $234,900
REO: 305 Cedar Ln., Twinbrook, Rockville 20851 4 BR/2 BA $305,000 SF
Bank of America: 18010 Chalet Dr. #18-101, Farmingdale, Germantown 20874 2 BR/2 BA $153,500 Condo REDUCED FROM $169,900
HUD: 18010 Chalet Dr. #204, Farmingdale, Germantown 20874 2 BR/2 BA $152,100 Condo REDUCED FROM $160,550
REO: 19 Chatterly Ct., Kingsview Village, Germantown 20874 3 BR/3 BA $414,900 Gar TH
REO: 3910 Chesterwood Dr., Montgomery Chase, Silver Spring 20906 3 BR/2.5 BA $218,900 TH Condo REDUCED FROM $251,000

REO: 11004 Childs St., Burnt Mills Manor, Silver Spring 20901 3 BR/3 BA $319,900 SF REDUCED FROM $339,900

Aurora Loan Services: 413 Christopher Ave. #87, Hyde Park, Gaithersburg 20879 2 BR/2 BA $138,000 Condo REDUCED FROM $175,000
Deutsche Bank: 8513 Churchill Downs Rd., Greenhills Farm, Gaithersburg 20882 5 BR/4.5 BA $739,900 SF REDUCED FROM $824,900
IndyMac Bank: 7416 Cinnabar Ter., Hadley Farms, Gaithersburg 20879 3 BR/2 BA $259,900 SF
REO: 12917 Clarks Crossing Dr., Clarksburg Town Center, Clarksburg 20871 4 BR/2 FB/2 HB $345,900 Gar TH
REO: 3312 Clay St., Conn. Ave. Estates, Silver Spring 20902 5 BR/2 BA $229,900 SF
REO: 11501 Clopper Rd., Gaithersburg Town, Gaithersburg 20878 3 BR/3 BA $279,900 SF
Wells Fargo Bank: 13420 Cloverdale Pl., Churchill Town Sector, Germantown 20874 3 BR/2 FB/2 HB $349,900 SF
Fannie Mae: 19305 Club House Rd. #301, Thomas Choice, Montgomery Village 20886 1 BR/1 BA $129,900 Condo Condo Fee: $405/mo.
REO: 11711 College View Dr., Connecticut Gardens, Silver Spring 20902 2 BR/2 BA $204,900 SF
Freddie Mac: 19011 Coltfield Ct., Stedwick Townhouses, Montgomery Village 20886 3 BR/1.5 BA $205,900 TH REDUCED FROM $228,260
Avelo Mortgage: 19023 Coltfield Ct., Stedwick Townhouses, Montgomery Village 20886 3 BR/2.5 BA $209,000 TH REDUCED FROM $249,000
Chase Home Finance: 9916 Cottrell Ter., Oakview, Silver Spring 20903 5 BR/2 BA $289,900 SF REDUCED FROM $304,900
Wells Fargo Bank: 1511 Crawford Dr., Rockcrest, Rockville 20851 3 BR/1 BA $279,000 SF
Freddie Mac: 902 Crestfield Dr., King Farm Bailey, Rockville 20850 4 BR/2.5 BA $489,000 Gar TH REDUCED FROM $494,900
Wells Fargo Bank: 1041 Cresthaven Dr., Hillandale Heights, Silver Spring 20903 3 BR/2.5 BA $399,900 SF
SunTrust Mortgage: 9 Cross Country Ct., Meadowvale, Gaithersburg 20879 3 BR/2 FB/2 HB $195,700 TH REDUCED FROM $204,900
REO: 18635 Cross Country Ln., Meadowvale, Gaithersburg 20879 3 BR/1.5 BA $179,000 TH REDUCED FROM $194,900
FDIC: 25 Cross Ridge Ct., Gunners Lake Village, Germantown 20874 3 BR/2.5 BA $169,900 TH
REO: 13816 Crosstie Dr. #897, Woodfield, Germantown 20874 3 BR/2 BA $194,900 TH REDUCED FROM $240,000
REO: 18746 Curry Powder Ln., Germantown Park, Germantown 20874 3 BR/1.5 BA $129,900 TH REDUCED FROM $139,000
Avelo Mortgage: 18752 Curry Powder Ln., Germantown Park, Germantown 20874 2 BR/1 BA $119,900 TH REDUCED FROM $152,000
U.S. Bank: 12109 Dalewood Dr., Conn. Ave. Estates, Silver Spring 20902 3 BR/1 BA $163,900 TH REDUCED FROM $189,900
Fremont Investment: 13300 Dauphine St., Harmony Hills, Silver Spring 20906 4 BR/2.5 BA $279,900 SF REDUCED FROM $324,900
REO: 8702 Delcris Dr., The Reach, Montgomery Village 20886 4 BR/3.5 BA $295,000 TH REDUCED FROM $300,900
GRP Loan: 13627 Demetrias Way, Churchill Town Sector, Germantown 20874 3 BR/2.5 BA $179,900 TH REDUCED FROM $199,900
Countrywide: 13477 Demetrias Way, Churchill Town Sector, Germantown 20874 3 BR/2.5 BA $187,900 TH REDUCED FROM $237,900
Fannie Mae: 2803 Denley Pl., Glenmont Hills & Heights, Silver Spring 20906 3 BR/1 BA $199,900 SF REDUCED FROM $234,900
REO: 23517 Derby Post Pl., Clarksburg Village, Clarksburg 20871 3 BR/2.5 BA $369,000 TH REDUCED FROM $399,000
REO: 12418 Dewey Rd., Veirs Mill Village, Silver Spring 20906 4 BR/2 BA $215,000 SF REDUCED FROM $230,000
Countrywide: 513 Diamond Ave. #7, Stratford Mews, Gaithersburg 20877 2 BR/2 BA $168,900 TH REDUCED FROM $180,900
Freddie Mac: 1407 Dilston Rd., Oakview, Silver Spring 20903 3 BR/2.5 BA $292,900 SF
HSBC Mortgage Service: 9809 Dilston Rd., Oakwood, Silver Spring 20903 4 BR/1.5 BA $237,900 SF REDUCED FROM $359,900
Garnet Investments: 9909 Dilston Rd., Oakview, Silver Spring 20903 4 BR/1.5 BA $187,500 SF REDUCED FROM $299,900
Equifirst Corporation: 15018 Dinsdale Dr., Longmead, Silver Spring 20906 3 BR/2.5 BA $222,000 TH REDUCED FROM $270,000
Citibank: 26832 Dix St., Damascus 20872 3 BR/2.5 BA $314,400 SF REDUCED FROM $399,900
REO: 203 Dogwood Dr., Lynpark, Gaithersburg 20877 5 BR/2 BA $239,900 SF
REO: 15119 Donna Dr., Peach Orchard Heights, Silver Spring 20905 4 BR/2.5 BA $386,900 SF
Bank of New York: 6411 Dorsey Rd., Laytonsville Outside, Gaithersburg 20882 3 BR/2.5 BA $175,900 SF Built in 1900 REDUCED FROM $254,900
REO: 21220 Dorsey Spring Rd. #10, Milestone Townhouses, Germantown 20876 3 BR/2 FB/2 HB $299,900 Gar TH
Ocwen: 11700 Doxdam Ter., Wexford, Germantown 20876 2 BR/2 BA $252,900 SF REDUCED FROM $289,900
Wells Fargo Bank: 13738 Dunbar Ter., Kingsview Village, Germantown 20874 4 BR/2.5 BA $329,900 TH REDUCED FROM $365,900
Fannie Mae: 9517 Dunbrook Ct., Essex Place, Montgomery Village 20886 2 BR/2.5 BA $193,900 TH REDUCED FROM $231,000
HSBC Bank: 20004 Dunstable Cir. #203-23, Scenery Pointe, Germantown 20876 3 BR/1.5 BA $176,500 TH Condo REDUCED FROM $194,900
American Home Mortgage: 4 Dutrow Ct., Clarksburg Ridge, Clarksburg 20871 4 BR/2.5 BA $465,000 SF REDUCED FROM $495,000
REO: 102 Duvall Ln. #6-202, Fireside, Gaithersburg 20877 2 BR/2 BA $109,900 Condo Condo Fee $551.12
REO: 12220 D Eagles Nest Ct., Waters Edge, Germantown 20874 2 BR/2 BA $189,900 Condo REDUCED FROM $207,500
REO: 1844 East West Hwy., Chevy Chase Crest, Silver Spring 20910 2 BR/1 BA $210,000 TH
REO: 1901 Ednor Rd., Meadows, Silver Spring 20905 5 BR/4 BA $899,900 SF
Wells Fargo Bank: 12703 Epping Ter. #8-B, Glenmont Heights, Silver Spring 20906 3 BR/2.5 BA $185,000 TH Condo
U.S. Bank: 7752 Epsilon Dr., Mill Creek South, Derwood 20855 3 BR/1.5 BA $184,900 TH REDUCED FROM $204,900
Countrywide: 412 Ethan Allen Ave., Takoma Park 20912 6 BR/4.5 BA $685,900 SF REDUCED FROM $696,900
REO: 12908 Ethel Rose Way, Summerfield Crossing, Boyds 20841 3 BR/2 FB/2 HB $335,000 Gar TH REDUCED FROM $340,000
Freddie Mac: 11804 Eton Manor Dr. #102, Eton Place, Germantown 20876 2 BR/2 BA $209,900 Condo REDUCED FROM $221,695
REO: 14506 Fairacres Rd., Fairland Acres, Silver Spring 20905 4 BR/2.5 BA $439,900 SF REDUCED FROM $500,000
Fannie Mae: 4705 Falcon St., Royal View, Rockville 20853 3 BR/2.5 BA $330,000 SF
U.S. Bank: 9810 Feathertree Ter. #20, Park Place, Montgomery Village 20886 2 BR/2 BA $232,000 Condo Condo Fee: $282/mo.
Fannie Mae: 14 Federal Ct. #120, Newport Estates, Gaithersburg 20877 2 BR/3 BA $114,900 TH REDUCED FROM $175,900
Fannie Mae: 7531 Filbert Ter., Hadley Farms, Gaithersburg 20879 3 BR/2.5 BA $237,000 Duplex
Countrywide: 7535 Filbert Ter., Hadley Farms, Gaithersburg 20879 3 BR/2.5 BA $268,900 SF REDUCED FROM $279,900
REO: 12611 Flack St., Glenmont Hills & Hgts., Silver Spring 20906 3 BR/1 BA $189,900 SF
Chevy Chase Bank: 7300 Flower Ave. #3, Takoma Park 20912 1 BR/1 BA $164.900 Condo Condo Fee: $135/mo.
REO: 9605 Garwood St., Indian Spring Manor, Silver Spring 20901 3 BR/2 BA $422,000 SF

Avelo Mortgage: 303 Gilsan St., Kemp Mill Estates, Silver Spring 20902 4 BR/2.5 bA $269,000 SF

Fremont Investment: 11503 Gilsan St., Kemp Mill Estates, Silver Spring 20902 4 BR/2.5 BA $345,900 SF REDUCED FROM $369,900
Countrywide: 436 Girard St. #103, Villa Ridge, Gaithersburg 20877 2 BR/1 BA $79,900 Condo REDUCED FROM $129,900
Deutsche Bank: 436 Girard St. #203, Villa Ridge, Gaithersburg 20877 1 BR/1 BA $89,900 Condo
REO: 424 Girard St. #T-3, Villa Ridge, Gaithersburg 20877 2 BR/2 BA $75,000 Condo REDUCED FROM $104,000
Deutsche Bank: 454 Girard St. #364, Villa Ridge, Gaithersburg 20877 2 BR/2 BA $87,000 Condo REDUCED FROM $108,000
Wells Fargo Bank: 3364 Gold Mine Rd., Brookville Knolls, Brookeville 20833 4 BR/2.5 BA $329,000 SF REDUCED FROM $399,900

REO: 17 Granite Pl. #291, The Colonnade, Kentlands, Gaithersburg 20878 2 BR/3 BA $308,900 Condo REDUCED FROM $350,000
REO: 5 Grazing Ct. E, Overlea, Montgomery Village 20886 3 BR/3 BA $184,900 TH
Wells Fargo Bank: 3332 Greencastle Rd., Burtonsville 20866 4 BR/2 BA $344,900 SF REDUCED FROM $474,900
REO: 2205 Greenery Ln. #204-9, Glenwaye Gardens, Silver Spring 20906 2 BR/1 BA $116,900 Condo
IndyMac Bank: 2310 Greenery Ln. #102-12, Glenways Gardens, Silver Spring 20906 2 BR/1 BA $110,000 Condo REDUCED FROM $158,900
Chase Home Finance: 18613 Grosbeak Ter., Quail Valley Townhouses, Gaithersburg 20879 3 BR/2.5 BA $216,500 TH REDUCED FROM $264,900
Fannie Mae: 18904 Grotto Ln., Germantown View, Germantown 20874 3 BR/2.5 BA $252,900 TH
Wells Fargo Bank: 1605 Gruenther Ave., Twinbrook Forest, Rockville 20851 4 BR/2 BA $199,000 SF
REO: 19609 Gunners Branch Rd. #3-0324, Greenfield Commons, Germantown 20876 2 BR/1 BA $121,000 Condo REDUCED FROM $139,900
REO: 14404 Gunstock Ct. #4-H, Kimberly Place, Silver Spring 20906 3 BR/2.5 BA $179,900 TH Condo REDUCED FROM $189,900
REO: 4418 Hallet St., Wheaton Woods, Rockville 20853 5 BR/2 BA $237,900 SF
Bank of America: 18327 Hallmark Ct., Flower Hill, Gaithersburg 20879 3 BR/2 FB/2 HB $244,900 TH
Freddie Mac: 14848 Hammersmith Cir., Longmead, Silver Spring 20906 3 BR/3.5 BA $249,900 TH REDUCED FROM $294,264
REO: 374 Hart Rd., Kentlands Midtown, Gaithersburg 20878 4 BR/4.5 BA $599,000 Gar TH
HSBC Bank: 4302 Havard St., Stoneybrook Estates, Silver Spring 20906 5 BR/3 BA $259,000 SF
Freddie Mac: 9952 Hellingly Pl. #181, Christopher Court, Gaithersburg 20886 1 BR/1 BA $117,900 Condo REDUCED FROM $123,220
Fannie Mae: 11422 Herefordshire Way, Brandermill, Germantown 20876 3 BR/2 BA $195,900 TH
REO: 3 Heritage Farm Ct., Hickory Grove, Montgomery Village 20886 4 BR/3.5 BA $429,900 SF
Bank of New York: 25 Hidden Field Dr., Hidden Creek, Gaithersburg 20877 4 BR/2.5 BA $479,900 SF REDUCED FROM $515,000
REO: 19148 Highstream Dr. #676, Woodfield, Germantown 20874 3 BR/2.5 BA $215,900 TH REDUCED FROM $260,000
Fannie Mae: 18935 Highstream Dr. #724, Woodfield, Germantown 20874 3 BR/2.5 BA $262,900 TH

Countrywide: 404 Hilton Head Ct., Hampshire Greens, Silver Spring 20905 4 BR/4.5 BA $859,900 SF REDUCED FROM $979,900

REO: 625 Houston Ave., Takoma Park 20912 5 BR/3 BA $294,500 SF REDUCED FROM $309,900

REO: 11820 Huggins Dr., Conn. Gardens, Silver Spring 20902 4 BR/2 BA $239,900 SF REDUCED FROM $269,900

IndyMac Bank: 11506 Idlewood Rd., Veirs Mill Village, Silver Spring 20906 2 BR/1 BA $170,900 SF REDUCED FROM $223,900

REO: 11509 Idlewood Rd., Veirs Mill Village, Silver Spring 20906 3 BR/3 BA $223,900 SF REDUCED FROM $329,900

Wells Fargo Bank: 11805 Idlewood Rd., Veirs Mill Village, Silver Spring 20906 3 BR/1 BA $245,000 SF

Countrywide: 4320 Ivy Glen Rd., Veirs Mill Village, Silver Spring 20906 4 BR/2 BA $208,900 SF REDUCED FROM $284,900

REO: 13540 Jamieson Pl., Germantown Estates, Germantown 20874 4 BR/2.5 BA $329,950 SF REDUCED FROM $339,500
REO: 13549 Jamieson Pl., Germantown Estates, Germantown 20874 4 BR/2.5 BA $325,000 SF REDUCED FROM $375,000
REO: 3804 Jeffry St., Conn. Ave. Estates, Silver Spring 20906 3 BR/2 BA $264,900 SF REDUCED FROM $299,900
Wells Fargo Bank: 4006 Jeffry St., Conn. Ave. Park, Silver Spring 20906 3 BR/2 BA $260,000 SF
REO: 4315 Judith St., Wheaton Woods, Rockville 20853 3 BR/2 BA $245,000 SF
REO: 11811 Judson Rd., Wheatoncrest, Silver Spring 20902 3 BR/1 BA $199,900 SF
Fannie Mae: 14512 Kelmscot Dr. #174-A, Rossmoor Mutual, Leisure World, Silver Spring 20906 3 BR/2 BA $270,000 TH REDUCED FROM $335,000
REO: 124 Kendrick Pl. #18, Kentlands Ridge, Gaithersburg 20878 2 BR/2 BA $279,900 Condo
LaSalle Bank: 405 Kerwin Rd., Northwood Village, Silver Spring 20901 3 BR/2 BA $244,900 SF REDUCED FROM $259,900

Freddie Mac: 19352 Keymar Way, Maryland Place, Montgomery Village 20886 3 BR/1.5 BA $167,000 TH REDUCED FROM $173,973

REO: 14604 Kinderhook Ter., Silverwood, Burtonsville 20866 3 BR/2 BA $205,900 TH REDUCED FROM $255,000

REO: 14624 King Lear Ct. #13, Georgian Colonies, Silver Spring 20906 4 BR/3.5 BA $230,000 TH

HSBC Bank: 12848 Kitchen House Way, Pleasant Fields, Germantown 20874 3 BR/3.5 BA $214,900 TH

REO: 14935 Ladymeade Cir, Longmead, Silver Spring 20906 3 BR/2.5 BA $227,900 TH

Wells Fargo Bank: 108 Lake St., Kentlands Gatehouse, Gaithersburg 20878 4 BR/4.5 BA $860,000 SF

REO: 9907 Lake Landing Rd., Walkers Choice, Montgomery Village 20886 3 BR/2.5 BA $243,675 TH REDUCED FROM $270,000
Fannie Mae: 13 Leatherwood Ct., Saddle Creek, Burtonsville 20866 3 BR/1.5 BA $229,900 TH REDUCED FROM $285,900
Deutsche Bank: 11235 Legato Way, Dumont Oaks, Silver Spring 20901 4 BR/2.5 BA $247,000 TH REDUCED FROM $284,900
GMAC Mortgage: 7812 Lindsay Hill Ter., Wheel of Fortune, Potomac 20854 5 BR/4.5 BA $1,100,000 Gar TH
Freddie Mac: 13809 Lionel Ln., Bel Pre Woods, Rockville 20853 4 BR/2 BA $308,000 SF REDUCED FROM $338,350
Beneficial Mortgage: 10910 Lockwood Dr., Burnt Mills Manor, Silver Spring 20901 4 BR/3 BA $347,900 SF REDUCED FROM $429,900
REO: 24008 Log House Rd., The Plantations, Gaithersburg 20882 4 BR/2.5 BA $320,000 SF
Deutsche Bank: 706 Ludlow St., Rolling Terrace, Takoma Park 20912 3 BR/2 BA $175,750 SF REDUCED FROM $200,000
Fannie Mae: 13975 Lullaby Rd., Kingsview Ridge, Germantown 20874 4 BR/3.5 BA $394,900 SF
REO: 17330 Macduff Ave., Cashell Manor, Olney 20832 5 BR/3.5 BA $535,000 SF
REO: 16840 Malabar St., Redland Station, Derwood 20855 4 BR/2.5 BA $399,900 SF REDUCED FROM $439,900
Deutsche Bank: 912 Malcolm Dr., Montgomery Knolls, Silver Spring 20901 3 BR/2 BA $213,655 SF REDUCED FROM $312,380
Freddie Mac: 501 Mandolin Ct., Audubon Square, Gaithersburg 20877 3 BR/2.5 BA $222,200 TH

Astoria Federal Savings & Loan: 7611 Maple Ave. #507, Takoma Park 20912 3 BR/2 BA $205,900 Condo REDUCED FROM $265,900

HSBC Bank: 12714 Maple St., Hollywood Park, Silver Spring 20904 3 BR/2.5 BA $251,900 SF REDUCED FROM $314,900
Guaranty Bank: 8304 Mariner Ct., Upper Seneca Crest, Gaithersburg 20882 4 BR/4 BA $529,900 SF REDUCED FROM $558,000
REO: 9504 Marston Ln., Maryland Place, Montgomery Village 20886 2 BR/1.5 BA $135,000 TH
REO: 19020 McFarlin Dr., Germantown Estates, Germantown 20874 2 BR/2 BA $264,900 SF
Freddie Mac: 19028 McFarlin Dr., Germantown Estates, Germantown 20874 4 BR/2.5 BA $334,900 SF REDUCED FROM $334,900
REO: 1416 Meadowsweet Dr., Meadowsweet, Sandy Spring 20860 5 BR/3.5 BA $999,900 SF
Fannie Mae: 9528 Melrose Square Way, The Plantations, Gaithersburg 20882 3 BR/2.5 BA $286,900 TH
REO: 18234 Metz Dr., Pleasant Fields, Germantown 20874 4 BR/2 BA $163,900 TH REDUCED FROM $239,000
REO: 112 Middle Point Ct., Foxwood, Gaithersburg 20877 3 BR/2.5 BA $197,500 TH REDUCED FROM $215,000
Bank of New York: 1306 Milestone Dr., Springbrook Village, Silver Spring 20904 4 BR/3.5 BA $349,900 SF REDUCED FROM $409,900

REO: 18901 Mills Choice Rd. #1, Mills Choice, Montgomery Village 20886 3 BR/2 BA $144,900 Condo

Avelo Mortgage: 11 Mills Rd., Browns, Gaithersburg 20877 2 BR/1 BA $172,000 SF REDUCED FROM $184,000

REO: 10243 Millstream Dr., Watkins Mill, Gaithersburg 20886 3 BR/2.5 BA $154,900 TH REDUCED FROM $164,900

REO: 1319 Mimosa Ln., Fairknoll, Silver Spring 20904 4 BR/3 BA $319,900 SF REDUCED FROM $358,900

REO: 1604 Moffet Rd., Oakview, Silver Spring 20903 4 BR/2 BA $189,900 SF REDUCED FROM $234,900

Wells Fargo Bank: 1018 Mondrian Ter., Colesville Village, Silver Spring 20904 4 BR/2.5 BA $219,900 TH REDUCED FROM $248,897

REO: 8242 Mountain Ash Way, Flower Hill, Gaithersburg 20879 3 BR/2.5 BA $219,900 TH REDUCED FROM $259,900

Fannie Mae: 7829 Muncaster Mill Rd., Gaithersburg 20877 3 BR/2 BA $159,900 SF REDUCED FROM $286,900

Prospect Mortgage: 12713 Murphy Grove Ter., Clarksburg Town Center, Clarksburg 20871 4 BR/3.5 BA $424,500 SF REDUCED FROM $425,500

REO: 18612 Mustard Seed Ct., Germantown Park, Germantown 20874 3 BR/2.5 BA $174,900 TH

REO: 1503 Oakview Dr., Oakview, Silver Spring 20903 5 BR/3.5 BA $344,900 SF

Bank of New York: 12001 Old Columbia Pike #412, Columbia Towers, Silver Spring 20904 3 BR/2 BA $166,900 Condo Fee: $445/mo. REDUCED FROM $232,900

GMAC Mortgage: 13991 Old Columbia Pike, Colesville Outside, Silver Spring 20904 3 BR/2.5 BA $325,900 SF REDUCED FROM $350,000

REO: 11700 Old Georgetown Rd. #907, The Sterling, Rockville 20852 2 BR/2 BA $369,000 Condo Condo Fee: $475/mo.

REO: 11710 Old Georgetown Rd. #713, The Gallery, Rockville 20852 2 BR/1 BA $374,900 Condo Condo Fee: $395/moo.

REO: 13007 Open Hearth Way, Pleasant Fields, Germantown 20874 3 BR/2.5 BA $235,900 TH
Lasalle Bank: 18237 Paladin Dr., Fair Hill Farm, Olney 20832 3 BR/2 FB/2 HB $251,655 TH REDUCED FROM $324,900
REO: 3224 Park View Rd., Chevy Chase 20815 3 BR/3 BA $535,000 SF REDUCED FROM $649,000
Countrywide: 19020 Perrone Dr., Germantown Estates, Germantown 20874 4 BR/2.5 BA $329,900 SF REDUCED FROM $344,900
HSBC Bank: 814 Philadelphia Ave., Blair, Silver Spring 20910 5 BR/2 BA $329,900 SF
Fremont Investment: 12957 Pickering Dr., Churchill Town Sector, Germantown 20874 3 BR/2.5 BA $229,900 TH REDUCED FROM $229,900
Freddie Mac: 12112 Pikeview Ter., Gunners Lake Village, Germantown 20874 3 BR/2 BA $212,100 TH
REO: 15 Pine Ridge Ct. #12-8, North Creek, Germantown 20874 3 BR/2.5 BA $154,900 TH Condo REDUCED FROM $164,900
REO: 8830 Piney Branch Rd. #512, Pineway Towers, Silver Spring 20903 3 BR/2 BA $198,500 Condo Condo Fee: $595/mo.

GMAC Mortgage: 19009 Quail Valley Blvd., Quail Valley, Gaithersburg 20879 4 BR/2.5 BA $249,900 SF REDUCED FROM $324,900

REO: 18005 Queen Elizabeth Dr., Olney Oaks, Olney 20832 3 BR/1.5 BA $285,000 TH REDUCED FROM $300,000
Freddie Mac: 3406 Queensborough Dr., Hallowell, Olney 20832 3 BR/2 FB/2 HB $294,500 TH REDUCED FROM $301,485
Aurora Loan Services: 18304 Quondal Ct., Emory Grove Park, Gaithersburg 20877 3 BR/1.5 BA $222,900 SF
Fannie Mae: 18309 Quondal Ct., Emory Grove Park, Gaithersburg 20877 4 BR/1.5 BA $278,900 SF
Freddie Mac: 1501 Rainbow Dr., Good Hope Estates, Silver Spring 20905 4 BR/2.5 BA $417,130 SF
Countrywide: 11425 Rambling Rd., Middlebrook Hill, Gaithersburg 20879 4 BR/2.5 BA $334,900 SF REDUCED FROM $339,900
REO: 1508 Randolph Rd., Paint Branch Estates, Silver Spring 20904 6 BR/3 BA $279,900 SF REDUCED FROM $299,900
REO: 749 Raven Ave., Hidden Creek, Gaithersburg 20877 4 BR/3.5 BA $352,000 TH
Freddie Mac: 8775 Ravenglass Way, Suffolk Place, Montgomery Village 20886 3 BR/3.5 BA $242,400 TH
REO: 3217 Regina Dr., Georgian Forest, Silver Spring 20906 4 BR/2 BA $269,000 SF REDUCED FROM $299,000
Sandy Spring Bank: 25624 Ridge Rd., Damascus Outside, Damascus 20872 5 BR/4 BA $375,000 SF REDUCED FROM $450,000

Assetlink: 28737 Ridge Rd., Damascus Outside, Mount Airy 21771 4 BR/2 BA $270,000 SF REDUCED FROM $319,000

REO: 9935 Ridgeline Dr., Clubside, Montgomery Village 20886 2 BR/1 FB/2 HB $199,900 TH REDUCED FROM $220,000

GMAC: 10005 Ridgeline Dr., Clubside, Montgomery Village 20886 3 BR/2.5 BA $135,000 TH

REO: 10211 Ridgeline Dr., Clubside, Montgomery Village 20886 3 BR/2 BA $139,900 TH

Countrywide: 10220 Ridgeline Dr., Clubside, Montgomery Village 20886 4 BR/2.5 BA $182,900 TH

Freddie Mac: 18114 Royal Bonnet Cir., Odend Hal, Gaithersburg 20886 3 BR/2 BA $229,900 TH

U.S. Bank: 8 Russell Ave. #203, Gaithersburg 20877 2 BR/1 BA $115,000 Condo REDUCED FROM $145,000
Countrywide: 12854 Sage Ter., Germantown Park, Germantown 20874 3 BR/1.5 BA $144,900 TH REDUCED FROM $149,900
REO: 19314 Sandy Lake Dr., Goshen Village, Gaithersburg 20879 3 BR/1.5 BA $178,000 TH

REO: 2511 Sapling Ridge Ln., Denit Estates, Brookeville 20833 5 BR/2 FB/2 HB $709,900 SF REDUCED FROM $714,900

REO: 12204 Selfridge Rd., Veirs Mill Village, Silver Spring 20906 8 BR/3 BA $204,000 SF

REO: 222 Shadow Glen Ct., Lakelands Great Seneca, Gaithersburg 20878 3 BR/2 FB/2 HB $569,900 SF REDUCED FROM $594,900

Fremont Investment: 10129 Shelldrake Cir., Damascus Valley Park, Damascus 20872 3 BR/2.5 BA $179,900 TH REDUCED FROM $219,900

REO: 13300 Sherwood Forest Dr., Sherwood Forest Manor, Silver Spring 20904 5 BR/4 BA $329,900 SF

REO: 20229 Shipley Ter. #3-B-10, Lakeview, Germantown 20874 2 BR/2 BA $136,000 Condo REDUCED FROM $169,900

Freddie Mac: 24712 Showbarn Cir., Damascus Hill, Damascus 20872 3 BR/2 BA $314,900 SF REDUCED FROM $342,895
Bank of New York: 14828 Silver Ash Ct., Valley Stream Estates, Burtonsville 20866 4 BR/2.5 BA $295,900 SF REDUCED FROM $300,899
Deutsche Bank: 6424 Sligo Mill Rd., Takoma Park 20912 4 BR/3 BA $265,900 SF REDUCED FROM $326,000 UNDER CONTRACT
Freddie Mac: 18904 Snow Fields Cir., Gunners Lake Village, Germantown 20874 3 BR/1 FB/2 HB $259,900 Gar TH REDUCED FROM $277,500

HSBC Bank: 18701 B Sparkling Water Dr., Fountain Hills, Germantown 20874 2 BR/2 BA $209,900 Condo REDUCED FROM $229,900

WM Specialty Mortgage: 18701 D Sparkling Water Dr., Fountain Hills, Germantown 20874 2 BR/2 BA $190,000 Condo REDUCED FROM $200,000

REO: 18715 Sparkling Water Dr. #9, Fountain Hills, Germantown 2 BR/2 BA $199,900 Condo

Household Finance Corporation: 18815 G Sparkling Water Dr., Fountain Hills, Germantown 20874 2 BR/2 BA $227,900 Condo REDUCED FROM $239,900

REO: 18 Sparrow Valley Ct., Overlea, Montgomery Village 20886 3 BR/2.5 BA $159,900 TH

REO: 100 Spring St., Browns, Gaithersburg 20877 3 BR/2.5 BA $224,900 SF REDUCED FROM $359,900

REO: 20002 Spur Hill Dr., Partridge Place, Gaithersburg 20866 3 BR/2.5 BA $169,000 TH REDUCED FROM $184,900

REO: 19113 Staleybridge Rd., Fox Chapel, Germantown 20876 3 BR/2 BA $199,900 SF REDUCED FROM $215,900

LaSalle Bank: 2 Standard Ct. #1, Newport Estates, Gaithersburg 20877 2 BR/1 BA $86,900 TH Condo REDUCED FROM $159,900
Wells Fargo Bank: 14001 Steed Ct., Kingsview Village, Germantown 20874 5 BR/3.5 BA $525,000 SF REDUCED FROM $589,000
U.S. Bank: 435 Sternwheeler Ct., Audubon Square, Gaithersburg 20877 3 BR/3.5 BA $174,900 TH

IndyMac Bank: 18452 Stone Hollow Dr., Stoneridge, Germantown 20874 2 BR/2.5 BA $159,000 TH REDUCED FROM $206,000

Saxon Mortgage: 13516 Straw Bale Ln., Highlands of Darnestown, Gaithersburg 20878 5 BR/3.5 BA $539,900 SF REDUCED FROM $559,900

REO: 18300 Streamside Dr. #103, Rosewood, Gaithersburg 20879 2 BR/2 BA $135,000 Condo REDUCED FROM $189,000

Fannie Mae: 18324 Streamside Dr. #102, Rosewood, Gaithersburg 20879 1 BR/1 BA $112,900 Condo REDUCED FROM $179,900

Fannie Mae: 18324 Streamside Dr. #203, Flower Hill, Gaithersburg 20879 1 BR/1 BA $137,900 Condo REDUCED FROM $177,900

HomeEq: 23925 Stringtown Rd., Fountain View, Clarksburg 20871 3 BR/2 BA $299,900 SF

IndyMac Bank: 11743 Summer Oak Dr., Gunners Lake Village, Germantown 20874 3 BR/2.5 BA $191,900 TH REDUCED FROM $223,900

GMAC Mortgage: 7 Summer Sweet Ct., Seneca Vista Estates, Germantown 20876 4 BR/3.5 BA $415,500 SF REDUCED FROM $459,900

REO: 2496 Sun Valley Cir. #8-JK, Kimberly Place, Silver Spring 20906 2 BR/2 BA $119,000 Condo
REO: 2702 Sweet Clover Ct., Calverton, Silver Spring 20904 3 BR/2.5 BA $275,500 TH REDUCED FROM $290,000
Deutsche Bank: 18228 Swiss Cir. #3, Farmingdale, Germantown 20874 2 BR/2 BA $159,900 Condo Condo Fee: $170/mo.
EMC Mortgage: 4720 Tallahassee Ave, Aspen Hill Park, Rockville 20853 5 BR/2 BA $280,000 SF REDUCED FROM $314,900
Countrywide: 14425 Taos Ct. #5-V, Kimberly Place, Silver Spring 20906 3 BR/2.5 BA $218,900 TH REDUCED FROM $225,900

Wells Fargo Bank: 4246 Tazewell Ter., Valley Stream Estates, Burtonsville 20866 3 BR/1 FB/2 HB $205,000 TH REDUCED FROM $250,000

Deutsche Bank: 15823 Thompson Rd., Colesville Outside, Silver Spring 20905 5 BR/3 FB/3 HB, $469,900 SF

REO: 13005 Trailside Way #5-3, North Creek, Germantown 20874 3 BR/2 BA $157,900 TH Condo Condo Fee: $80/mo.

Fannie Mae: 13010 Trailside Way #2-5, North Creek, Germantown 20874 2 BR/1 BA $132,900 TH REDUCED FROM $200,000
REO: 19517 Transhire Rd., Maryland Place, Montgomery Village 20886 3 BR/1.5 BA $159,900 TH
SunTrust Bank: 6 Travilah Ter., Potomac 20854 6 BR/5 FB/2 HB $1,099,999 SF 2.03 Acres REDUCED FROM $1,275,000
Fremont Investment: 13779 Travilah Rd., Darnestown Outside, Rockville 20850 6 BR/5 BA $1,249,000 SF

Deutsche Bank: 12006 Tregoning Pl., Schaeffer Farm, Clarksburg 20871 7 BR/6.5 BA $799,900 SF REDUCED FROM $923,900

Branch Banking and Trust: 23613 Tregoning Rd., Schaeffer Farm, Clarksburg 20871 5 BR/5.5 BA $905,500 SF

Deutsche Bank: 3825 Tremayne Ter. #18, Georgian Colonies, Silver Spring 20906 4 BR/3.5 BA $209,900 TH Condo REDUCED FROM $254,900

GMAC Mortgage: 9133 Tulip Grove Rd., Charlene, Gaithersburg 20879 4 BR/2 BA $299,900 SF REDUCED FROM $325,500

REO: 18624 Turmeric Ct., Germantown Park, Germantown 20874 3 BR/1.5 BA $167,500 TH REDUCED FROM $179,000

Deutsche Bank: 17 Tygart Ct., Hadley Farms, Gaithersburg 20879 3 BR/2.5 BA $324,900 Gar TH

Freddie Mac: 1121 University Blvd. #108-B, University Towers, Silver Spring 20902 2 BR/1 BA $159,000 Condo Condo Fee: $600/mo.

Residential Funding: 3008 University Blvd. W, Kensington Heights, Kensington 20895 3 BR/1 BA $249,900 SF REDUCED FROM $274,900

Fremont Investment: 9416 Vineyard Haven Dr., Salems Grant, Montgomery Village 20886 3 BR/3.5 BA $369,900 SF REDUCED FROM $399,900
REO: 18000 Wagonwheel Ct., Olney Oaks, Olney 20832 3 BR/1.5 BA $258,900 TH REDUCED FROM $268,900
Freddie Mac: 18636 Walkers Choice Rd. #1, Normandie on the Lake II, 1 BR/1 BA $117,500 Condo REDUCED FROM $121,200

REO: 18707 Walkers Choice Rd. #4, Normandie on the Lake I, Montgomery Village 20886 3 BR/2 BA $84,000 Condo REDUCED FROM $128,500

Resource Bank: 18715 Walkers Choice Rd. #3, Normandie on the Lake I, Montgomery Village 20886 1 BR/1 BA $119,900 Condo REDUCED FROM $154,900
Countrywide: 18716 Walkers Choice Rd. #2, Normandie on the Lake II, Montgomery Village 20886 2 BR/2 BA $92,900 Condo REDUCED FROM $97,900
REO: 18808 Walkers Choice Rd. #5, Normandie on the Lake II, Montgomery Village 20886 2 BR/1 BA $95,900 Condo REDUCED FROM $113,900
Fannie Mae: 14 Warrior Brook Ct., Germantown Estates, Germantown 20874 4 BR/2.5 BA $324,900 SF REDUCED FROM $390,900
Freddie Mac: 17 Water St. #7, Lilac Gardens, Gaithersburg 20877 1 BR/1 BA $61,000 Condo

REO: 8603 Watershed Ct., Emory Gove Hills, Gaithersburg 20877 3 BR/2.5 BA $215,000 TH

REO: 201 Wayne Ave., Highland View, Silver Spring 20901 3 BR/2 BA $399,000 SF REDUCED FROM $425,000

Property Asset Management: 2623 Weisman Rd., Weismans, Silver Spring 20902 2 BR/1 BA $159,900 SF REDUCED FROM $179,900
Wells Fargo Bank: 8842 Welbeck Way, McConkey, Montgomery Village 20886 2 BR/1.5 BA $105,000 TH REDUCED FROM $139,900
Fannie Mae: 20127 Welbeck Ter., McConkey, Montgomery Village 20886 3 BR/2.5 BA $165,900 TH
REO: 8816 Westland Dr., Walnut Hill, Gaithersburg 20877 4 BR/2.5 BA $325,000 SF REDUCED FROM $365,000
REO: 698 West Side Dr. #3, Brighton West, Gaithersburg 20878 4 BR/3.5 BA $147,900 TH Condo Condo Fee: $252/mo.
REO: 4637 Weston Pl., Oakland Farm, Olney 20832 4 BR/2.5 BA $389,000 Gar TH
Deutsche Bank: 19821 Wheelwright Dr., Watkins Mill, Gaithersburg 20886 3 BR/2.5 BA $170,000 TH
REO: 11209 White Barn Ct., Seneca Park, Gaithersburg 20879 3 BR/3.5 BA $252,900 TH REDUCED FROM $264,900
Fannie Mae: 13255 Whitechurch Cir,. Churchill Town Sector, Germantown 20874 4 BR/2 BA $192,900 TH REDUCED FROM $235,000
REO: 19612 White Saddle Dr., The Colony, Germantown 20874 3 BR/2 FB/2 HB $219,900 TH REDUCED FROM $239,900
REO: 13258 Wonderland Way #402, Farmingdale, Germantown 20874 3 BR/2.5 BA $194,900 TH Condo REDUCED FROM $209,900

Fremont Investment: 9926 Woodburn Rd., Indian Spring Village, Silver Spring 20901 2 BR/1.5 BA $369,900 SF REDUCED FROM $439,900

REO: 23312 Woodfield Rd., Damascus Outside, Gaithersburg 20882 5 BR/3 BA $213,000 SF

Deutsche Bank: 25011 Woodfield Rd., Country View, Damascus 20872 3 BR/2 BA $279,900 SF REDUCED FROM $349,900
Copyright 2008 by Roy Kelley - Information deemed reliable, but is subject to changes. We must always confirm availability and current prices. Any reproduction, distribution or other use is prohibited. Do not email this report to others without written authorization from Roy Kelley.
We have a very simple request if you wish to receive our information and advice. We ask you to agree to use us as your exclusive buyer agents for your next real estate purchase. Please advise us if you are represented by another real estate agent.
Please contact us if you have questions about the foreclosure process in Maryland. If you are searching for a property, please tell us about your specific needs. Please refer your friends that may wish to purchase a residence or investment property.
Your Real Estate Professional,
Roy Kelley

Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200
Gaithersburg, MD 20879

Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com (All available listings may by viewed on Homes Prospector)
Blog: http://activerain.com/blogs/roykelley

Frederick County REO: We distribute a separate list of the lender owned foreclosures in Frederick County, MD. If you are not on that list and wish to receive the reports, please contact us at roykelley@mris.com

WHAT IS DIFFERENT IN THE 2009 REAL ESTATE MARKET?

EVERYBODY IS HOPING TO PURCHASE AT THE BOTTOM OF THE MARKET

We will not know that we have hit the bottom of the market until the prices start to rise. And, that can happen very quickly when the time comes. What we do know is that buyers have the largest selection at the lowest prices in several years and mortgage interest rates are at the lowest levels in decades. We do know that the bargains are in the inventory of lender owned foreclosures. We do know that the lender owned homes are going under contract at the rate of about 10 houses per day in Montgomery County. Currently, the REO properties are selling faster than the inventory is increasing. So, if the timing is right for you and you are planning to own your purchase for several years, we recommend that you take advantage of the buyer market this year.

Lenders are reducing the prices until the properties are under contract. A recent example is a 3 BR/3 BA single family REO at 3224 Park View Road, Chevy Chase, MD 20815. The lender reduced the price from $649,000 to $535,000. The 2009 tax assessment is $752,240. Is this a bargain?

Investors have learned to make offers on REO properties that have been on the market for some time. Some lenders will consign the homes to auction if they are not sold within six months. For example, one lender has asked us to seek offers on a condo that is scheduled to be consigned on February 25. They would rather have a direct sale than go to the expense of an auction. This 2 BR condo is 436 Girard Street #103, Villa Ridge, Gaithersburg, MD 20877 and the price was reduced to $79,900. Another lender responded by reducing the price of another unit in the same complex to $75,000. Price battles between lenders owners benefit smart buyers.

THERE ARE MORE FIX-UP PROPERTIES

With the large inventory of lender owned homes, there are more properties that need repairs or renovation. Most of the home owners that face foreclosure do not have the funds of normal maintenance and the updating that every house needs from time to time. So, purchasers of lender owned foreclosures find many of the best bargains also provide the challenge of funding the needed improvements. If you or a family member is seeking a fix-up situation, you should discuss the options of renovation financing with your loan officer when you get pre-approved. Excellent renovation financing is available. Many owner occupants purchasers use FHA 203 (k) which will cover the acquisition costs plus the improvements. One of our clients is scheduled for a settlement today on a lender owned property that needs total renovation. The 203 (k) consultant has provided complete cost estimates on everything that needs to be done to advise the buyer and support the financing. Since FHA financing is not available to investors, they need to use conventional renovation financing.

An example of the renovation bargains is the REO listing at 23312 Woodfield Road, Gaithersburg, MD 20882. This 5 BR/3 BA single family home is priced at $213,000. It has 1,546 sf of living area and a detached 440 sf garage. The lot size is 20,283 sf. It sold for $415,000 in 2005. Why is it priced so low? It has mold.

FIRST TIME BUYERS HAVE MUCH AVAILABLE ASSISTANCE WITH MORTGAGE FINANCING

FHA has become the preferred purchase money mortgage financing for many first time buyers. The minimum cash requirement is 3.5% and family assistance is allowed. Contracts can be structured to have the seller pay the closing costs. The $7,500 federal tax credit is available and may be improved with currently pending legislation. In Montgomery County, the Housing Opportunities Commission (HOC) is offering financing for moderate income families. Frederick County also has several special programs to assist buyers with cash requirements.

The Lieberman/Isakson Amendment was included in the senate version of the Economic Stimulus Bill by a unanimous voice vote. This amendment would provide a Tax Credit to all home buyers at the rate of 10% of the sales price up to a limit of $15,000. The credit would be available for a one year period to all purchasers of primary residences

Home buyers may qualify for the Countrywide Home Loans $3,000 Express Grant depending on their income and property location. Currently the Grant is available from Countrywide until March 31, 2009. There are two ways a buyer can qualify for the Grant. The first is the income qualification for low to moderate income limits. These limits do vary from county to county but for example a person/couple buying in Montgomery, Frederick or Prince George's counties can get a $3,000 grant with income below $52,000. They can get a $1,500 grant with income up to $83,000. The second option for grant qualification is by property location. The property must be identified to determine eligibility. If eligible, another $1,500 grant is available. Total grant available per buyer is $3,000. The grant does not have to be repaid and is not a loan. One of the loan officers offering this assistance is Joanne Blum. cell 301-943-6567.

LENDER OWNED FORECLOSURES (REO)

We provide client reports on the lender owned homes that are available for purchase and we represent buyer clients as their exclusive agents. If you decide to us another agent, you will want to be sure that your agent has experience in the REO sector. All buyers should obtain pre-approval for mortgage financing before submitting an offer. The sellers require a lender letter with the contracts. Investors with outstanding mortgage loans on four of more properties are finding more limited access to investor financing. Ask us for a referral to a loan officer if you do not have a personal relationship with your prospective lender.

Please contact us with your real estate questions. We will always appreciate your referrals!

Your Real Estate Professional,

Roy Kelley

Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200
Gaithersburg, MD 20879

Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com (All available listings may by viewed on Homes Prospector)
Blog: http://activerain.com/blogs/roykelley

MARYLAND TAX ASSESSMENT APPEALS

HOME OWNERS UPSET WITH HIGH REAL ESTATE TAX ASSESSMENTS

Many home owners think their real estate tax assessments are too high. The Sunday Washington Post has a major article on this subject. On line appeals may be made at www.dat.state.md.us

The following wording is from the official website:

THE ASSESSMENT APPEAL PROCESS IN MARYLAND

Property owners sometimes feel that the department's estimate of their property value is wrong. The assessment appeal process is available to allow property owners the opportunity to dispute the value determined by the department. Property values rise and fall to reflect the market. A property owner should file an appeal when they believe that their property is not valued at its current market value.
Appeals may be filed on three occasions:
upon receipt of an assessment notice;
by a petition for review; and
upon purchase of property between January 1 and June 30.

APPEAL ON REASSESSMENT

Property owners will normally receive a Notice of Assessment every three years that shows the old market value as well as the new market value. The new value reflects the market influence and other conditions affecting the property from the time of the last assessment.
If you decide to appeal, the first step is to reply to the Notice of Assessment by signing and returning the appeal form within 45 days of the date of the notice. Following this, a personal or telephone hearing will be scheduled. Appeals can also be made in writing, eliminating the need for a hearing.

PETITION FOR REVIEW

If events have occurred since your last regular assessment that you believe have caused your property value to decline or if you failed to respond to the Notice of Assessment within the required time frame, you may file for a petition for review by January 1 of any year. Click here to obtain a Petition form. The completed form should be mailed to your local assessment office. After filing the petition, you will be scheduled for a hearing; or, if you prefer, your written submission can be reviewed eliminating the need for a hearing.

APPEAL UPON PURCHASE

If you purchase a property and the property is transferred after January 1 but before July 1, you may file an appeal within 60 days of the transfer. After filing a written appeal, you will be scheduled for a hearing; or, if you prefer, your written appeal can be reviewed instead of having a hearing.

FIRST STEP - SUPERVISOR'S LEVEL

The first level of the appeal process, known as the Supervisor's level, is informal. You will present your case to an assessor designated by the Supervisor of Assessments. Typically, hearings at this level take approximately 15 minutes.
You can obtain a copy of the worksheet for the property free of charge from your local assessment office. The information on the worksheet will be reviewed at the time of the hearing to assure its accuracy.
For assistance in estimating the value of your property, you can obtain sales data from various sources, including: sales listings located in the local assessment office; commercially available sales reports and other information available at local libraries; local Real Estate offices; personal surveys of recently sold comparable properties in the area; and local listings of sales transactions in the newspaper. For a nominal fee, worksheets of comparable properties may be obtained from the assessment office.
To be most effective, you should:
Focus on those points that affect the value of your property.
Indicate why the Total New Market Value does not reflect the market value of the property.
Identify any mathematical errors on the worksheet or inaccurate information describing the characteristics of the property (such as the number of bathrooms, fireplaces, etc.).
Provide examples of sales of comparable properties which support your findings as to the value of the property.
Avoid the following issues since they are not relevant to the value under appeal: comparison to past values, percent of increase, additional metropolitan costs, the amount of the tax bill, properties in other taxing jurisdictions, and services rendered or not rendered.
Your first level hearing should be viewed as an opportunity to present evidence which would indicate that the department's value of the property is inaccurate.

SECOND STEP - PROPERTY TAX ASSESSMENT APPEAL BOARD

Following the hearing, you will receive a final notice. If you disagree with the decision, you can appeal to the next step which is to the Property Tax Assessment Appeal Board. The second step appeal must be filed within 30 days from the date of the final notice from the Supervisor of Assessments.
There is an independent appeal board comprised of 3 local residents in each of the counties and Baltimore City. Property owners generally need no assistance at this step, no fees are required, and they are free to present any supporting evidence. You can obtain a list of the comparable properties that will be used by the assessment office before the Board if you file a written request to the assessment office at least 15 days before the scheduled date of the hearing.

THIRD STEP - MARYLAND TAX COURT

If you are dissatisfied with the decision made by the Appeal Board, you can file an appeal within 30 days of the date of the board's decision to the Maryland Tax Court. The Maryland Tax Court is an independent body appointed by the Governor. Although the proceedings are more formal than the first 2 levels, it is still considered to be an informal, administrative hearing. Property owners who are in disagreement with the Tax Court's decision can appeal further through the regular judiciary system. Here you will probably need legal counsel.

RECAP

The assessment appeal process is a mechanism intended to assure an accurate property valuation. If you believe that the value placed upon your property is higher than it should be and if you can provide supporting evidence (such as sales information for properties comparable to your own), then it is in your best interest to appeal.
Your Real Estate Professional,

Roy Kelley

Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200
Gaithersburg, MD 20879

Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569
Home Search Website: www.roykelley.com (All available listings may by viewed on Homes Prospector)
Blog: http://activerain.com/blogs/roykelley

Renovation Financing for REO Homes

Renovation Financing for REO Homes

As REO agents, we see hundreds of homes that need repairs or improvements. When homes go through the foreclosure process, most of the owners do not have the funds to cover normal maintenance needs or carpet and appliance replacements.

These properties can present wonderful purchase opportunities. Rather than purchase a home that has been fixed up by the seller with different tastes in paint color, carpet and appliance selection, why not purchase a REO home that needs some work and fix it up just the way you want it for your own comfort and pleasure.

Financing lender owned home with deferred maintenance is easier when the lender has loan products that will cover needed renovation financing.

The following details the requirements and use of the FHA Streamlined 203 (k) product that can meet the needs of many purchasers. We have found that most of the time REO property repairs that are needed amount to a cost less than $35,000 if the buyer is diligent with planning. Not all lenders offer this type of financing, so if you need this type of assistance ask your REALTOR for a lender referral.

FHA Streamlined 203(k)
Limited Repair Program
FHA's Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser.
MORTGAGEE LETTER 2005-50
December 29, 2005
SUBJECT: Enhancements to “Streamlined (k)” Limited Repair Program
Mortgagee Letter 2005-19 (ML 05-19) announced the Streamlined (k) Limited Repair Program to augment FHA’s existing Section 203(k) rehabilitation program for less extensive repairs and improvement. This Mortgagee Letter replaces in its entirety ML 05-19 and is designed to make the program more reflective of the desire of many homebuyers and existing homeowners to improve their homes including making them more energy efficient.
This Mortgagee Letter contains important changes to the Streamlined (k) program described in Mortgagee Letter 2005-19, including:
· Additional eligible work items, including lead-based paint stabilization.
· Increased maximum mortgage amount for repair or rehabilitation costs from $15,000 to $35,000.
· Elimination of minimum repair cost threshold.
Like the regular Section 203(k) rehabilitation loan program, Streamlined (k) is available for use in conjunction with other Departmental programs and activities. This Mortgagee Letter introduces some procedural requirements applicable only to Streamlined (k) – including:
· The availability of Streamlined (k) to pay for lead-based paint stabilization costs above and beyond that paid for by HUD when it sells real estate owned (REO).
· The option (rather than a requirement) for the mortgagee to establish a contingency reserve of rehabilitation loan proceeds.
In addition, like the regular Section 203(k) program, Streamlined (k) is available:
· To augment an FHA Energy Efficient Mortgage (EEM),
· To insure the mortgage on a single-family housing unit sold from the HUD’s REO inventory
· To insure a mortgage that covers both repairs costs and the refinance of an existing mortgage.
What improvements are eligible under the new Streamlined (k) program?
The Streamlined (k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required. The Streamlined (k) program includes the discretionary improvements and/or repairs shown below:
· Repair/Replacement of roofs, gutters and downspouts
· Repair/Replacement/upgrade of existing HVAC systems
· Repair/Replacement/upgrade of plumbing and electrical systems
· Repair/Replacement of flooring
· Minor remodeling, such as kitchens, which does not involve structural repairs
· Painting, both exterior and interior
· Weatherization, including storm windows and doors, insulation, weather stripping, etc.
· Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
· Accessibility improvements for persons with disabilities
· Lead-based paint stabilization or abatement of lead-based paint hazards
· Repair/replace/add exterior decks, patios, porches
· Basement finishing and remodeling, which does not involve structural repairs
· Basement waterproofing
· Window and door replacements and exterior wall re-siding
· Septic system and/or well repair or replacement
What are the minimum and maximum amounts for repair costs under this program?
Given the need for homeowners to make minor repairs without exhausting personal savings, and in consideration of the increasing cost of materials, the minimum repair cost of $5,000 is eliminated and the ceiling is now raised to $35,000. This revised maximum repair/rehabilitation amount recognizes the cost of making older homes more energy efficient. Note that as described below, when the repairs exceed $15,000, the mortgagee must perform or obtain an inspection to determine that all listed repairs were completed.
Can this program be used for repairs and improvements on purchases of HUD Homes?
Like the regular Section 203(k) program, Streamlined (k) may be used for single-family housing sold by HUD. REO properties that have been designated by FHA’s Management and Marketing contractor (M&M) as “insurable” with repair escrow ($5,000 or less in required repairs) or “uninsurable” (with more than $5,000 but no more than $35,000 in required repairs) are eligible for the Streamlined (k) program provided that the repairs qualify as eligible work items outlined in this Mortgagee Letter.
What if the REO property requires lead-based paint stabilization?
The Streamlined (k) program may be used for the financing of REO purchases where a pre-1978 property has been determined to contain lead-based paint and the M&M Contractor has completed a stabilization plan and cost estimate to stabilize (mitigate) the deteriorated paint. The purchaser must sign a 203(k) rehabilitation financing lead agreement requiring that a clearance examination and report be included in the work write-up and conducted before release of the final construction disbursement and before occupancy. The credit from HUD, received at sales closing by the purchaser, associated with the lead-based paint stabilization plan is not included in the $35,000 Streamlined (k) limit. The Streamlined (k) program may be used for all eligible repair items as shown above, including the cost of lead-based paint stabilization not paid for by HUD when it sells a property requiring lead-based paint stabilization. A state- or Environmental Protection Agency (EPA) certified lead-based paint inspector, certified risk assessor or sampling technician, must perform the clearance examination.
When the Department sells a single-family REO property, the M&M Contractor determines whether repairs are necessary to stabilize any lead-based paint. HUD’s regulations for pre-1978 housing require the stabilization of paint except for paint determined not to be lead-based paint. HUD may reduce the sales price by the amount of a credit equal to the Department’s contribution toward the cost of lead-based paint stabilization. Any lead-based paint stabilization costs in excess of this credit become the responsibility of the purchaser.
Can the Streamlined (k) program be used for refinancing the mortgage?
The Streamlined (k) program is also available for mortgage refinance transactions including those where the property is owned free-and clear. Only credit-qualifying “no cash out” refinance transactions with an appraisal are eligible for the Streamlined (k) program. The form HUD-92700 provides instructions for calculating the maximum mortgage permitted for Streamlined (k) loans for purchase and refinance transactions.
If the borrower has owned the property for less than a year, the acquisition cost must be used to determine the maximum mortgage amount. The requirement to use the lowest sales price within the last year does not apply to the Streamlined (k) program.
What are the appraisal requirements under the Streamlined (k) program?
The Streamlined (k) program may be used for discretionary repairs and/or improvements that may not have been identified in the course of a pre-purchase inspection or appraisal. The mortgagee must provide the appraiser with information regarding the proposed rehabilitation or improvements and all cost estimates so that an after-improved value can be estimated. A description of the proposed repairs and/or improvement must be included in the appraisal report as well as the contractor’s cost estimate. The appraiser is to indicate in the reconciliation section of the appraisal report an after-improved value subject to completion of the proposed repairs and/or improvements.
What are the mortgagee’s requirements for examining the contractor bids? For paying the contractor prior to beginning construction? For inspections of the work?
· Contractor bids: While mortgagees are not contractors, participation in this program requires that they examine the contractor’s bid(s) and determine that they fall within the usual and customary range for similar work. Mortgagees must also ensure that the selected contractor(s) meet all jurisdictional licensing and bonding requirements.
· Payments in advance of construction: The mortgagee—at its discretion—may provide the contractor with up to 50 percent of the estimated cost of any work item prior to beginning construction. Such payments should only be made where the mortgagee is satisfied with the reputation of the contractor(s) and the contractor is not willing or able to defer receipt of payment until completion of the work or the payment represents the cost of materials incurred prior to construction.
· Payments for Inspections:
o For repair costs not exceeding $15,000, the mortgagee is not required to perform, or have others perform, inspections of the completed work. However, the mortgagee may choose to obtain or perform inspections if it believes such actions are necessary for program compliance and/or risk mitigation. Mortgagees may also ensure that the repairs and/or improvements have been completed by obtaining contractor’s receipts or by a signed Mortgagor’s Letter of Completion. If the mortgagee determines that an inspection(s) by a third party is necessary to ensure proper completion of the proposed repair or improvement item, the mortgagee may charge the borrower for the costs of no more than two inspections per each contractor.
o For repairs in excess of $15,000, the mortgagee must perform or obtain an inspection of the completed work by a third party.
What are the mortgagor’s requirements for selecting the contractor? And what are the mortgagee’s requirements for review of the contractor and the rehabilitation proposal?
The mortgagor must use one or more contractors to complete the repairs. “Self-help” arrangements, in which the mortgagor performs the work, are not to be approved unless the mortgagor can sufficiently demonstrate that he or she has the necessary expertise and experience to perform the work competently (e.g., mortgagor is an electrician and will perform electrical repairs/upgrades to the property).
The mortgagor will select the contractor(s) who will provide estimates for work to be done. The mortgagee reviews the mortgagor’s proposed work plan and cost estimates to ensure the planned work meets all program and repair recommendations as noted on the appraisal report. The mortgagor must provide the mortgagee with a written cost estimate(s) and references from a duly licensed and bonded contractor(s) for each specialized repair or improvement. If “self-help” arrangements are utilized, the mortgagor must provide written estimates from the suppliers of the materials. Those repairs and improvements must meet any local codes and ordinances and the mortgagor and/or contractor must obtain all required permits prior to the commencement of work.
The cost estimate(s) must clearly state the nature and type of repair and the cost for completion of the work item and must be made even if the mortgagor is performing some or all of the work under a self-help arrangement. The mortgagee must review the contractor’s credentials, work experience and client references and may require the mortgagor to provide additional cost estimates if necessary. After review, the selected contractor(s) must agree in writing to complete the work for the amount of the cost estimate and within the allotted time frame. A copy of the contractor’s cost estimate(s) and the Homeowner/Contractor Agreement(s) must be placed in the insuring binder. The contractor must finish the work in accordance with the written estimate and Homeowner/Contractor Agreement and any approved change order. As in the regular 203(k) program, the Rehabilitation Construction Period begins when the mortgage loan is closed.
What are the mortgagee’s requirements for paying contractors?
No more than two payments may be made to each contractor, or to the mortgagor if the mortgagor is performing the work under a self-help arrangement. The first payment is intended to defray material costs and shall not be more than 50% of the estimated costs of all repairs/improvements. When permits are required, those fees may be reimbursed to the contractor at closing. The final payment to the contractor will be made following completion of all work and release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file a legal claim. When necessary, the mortgagee may arrange a payment schedule, not to exceed two (2) releases, per specialized contractor (an initial release plus a final release.) Mortgagees are to issue payments solely to the contractor, except if the mortgagor is performing the work under a self-help arrangement, in which case the mortgagor may be reimbursed for materials purchased in accordance with the previously obtained estimates; the mortgagor may not be compensated for his or her labor.
To eliminate the need and cost for an inspection of the completed repair(s) or improvement(s) when not exceeding $15,000, the mortgagee may accept receipts or proof of completion of the work to the homeowner’s satisfaction from the contractor. Before a final release is made, the mortgagor must sign a statement acknowledging that the work has been completed in a professional and satisfactory manner.
May the mortgagee establish a Contingency Reserve?
The Streamlined (k) program does not mandate a contingency reserve be established. However, at the mortgagee’s discretion a contingency reserve account may be set up for administering the loan. Funds held back in contingency reserve must be used solely to pay for the proposed repairs or improvements and any unforeseen items related to these repair items. Any unspent funds remaining after the final work item payment(s) is made, must be applied to the mortgage principal.
Is there a maximum mortgage amount worksheet that must be used?
Form HUD-92700, 203(k) Maximum Mortgage Worksheet must be used to calculate the mortgage amount. Also, the appraiser must provide an after-improved value since 110% of that amount is used in calculating the maximum mortgage. Architectural and consultant fees, line items 6 and 7 of Section B of the worksheet are not applicable to the Streamlined (k) program. For Item 3 of Section D, please refer to handbook HUD-4155.1 REV-5, paragraph 1-7 which provides the various maximum loan-to-value ratios.
Expenses that may be included in the total amount of the improvements, not to exceed the $35,000 limit, are inspection fees, building and other permits, the supplemental origination fee, title update costs and the amount of any contingency reserve required by the mortgagee.
Can we combine the Streamlined (k) with an Energy Efficient Mortgage (EEM)?
The EEM program, as described in ML 05-21, may be used in conjunction with the Streamlined (k) program. The amounts permissible under the EEM program—as well as the qualifying requirements—are in addition to those available under the Streamlined (k) program and, thus, combined may exceed the $35,000 Streamlined (k) repair cost limit. Both the cost of EEM improvements as well as weatherization items (not to exceed $2,000) may be added to the total FHA loan amount.
What are the “closeout requirements” under the Streamlined (k) program?
The mortgagee electronically certifies the closeout via the FHA Connection and is not required to forward the closeout documents to FHA. As with all FHA case binders, the originator must retain the file, either in hard copy or electronic format, for two years following endorsement of the mortgage. Proper close-out means that the mortgagee has certified that it has reviewed and verified for accuracy of the following without limitations: mortgagor’s acknowledgement of satisfactory completion, evidence of release of lien(s), mortgagee’s inspection report(s), change orders, mortgagee accounting of the escrow funds, and record of disbursements.
Are there specific data entry requirements under the Streamlined (k) program?
The mortgagee must enter “203KS” in the 203(k) Consultant ID field in the
Case Number Assignment Screen (and the Insurance Application Screen) to identify the Streamlined (k) product and enter the amount of the repairs in the Repair Escrow Amount field in the Insurance Application Screen. In the event that the mortgagee had originally begun processing the case as a purchase mortgage without repairs, the mortgagee should update the existing case data in the Case Number Assignment screen, changing the ADP Code to a valid 203(k) ADP Code and the Construction Code to Substantial Rehabilitation.
If the Streamlined (k) mortgage is for a refinance transaction, please enter “substantial rehabilitation” in the drop down screen labeled “Construction Code” and “Not Streamlined” (the refinance type) in the drop down screen labeled “All Refinances” in the Case Number Assignment Screen in FHA Connection.
What items remain ineligible for the Streamlined (k) program?
Properties that require the following work items are not eligible for financing under the Streamlined (k):
· Major rehabilitation or major remodeling, such as the relocation of a load-bearing wall;
· New construction (including room additions);
· Repair of structural damage;
· Repairs requiring detailed drawings or architectural exhibits;
· Landscaping or similar site amenity improvements;
· Any repair or improvement requiring a work schedule longer than six (6) months; or
· Rehabilitation activities that require more than two (2) payments per specialized contractor.
Mortgagors may not use the Streamlined (k) program to finance any required repairs arising from the appraisal that do not appear on the list of Streamlined (k) Eligible Work Items or that would:
· Necessitate a “consultant” to develop a “Specification of Repairs/Work Write-Up”;
· Require plans or architectural exhibits;
· Require a plan reviewer;
· Require more than six months to complete;
· Result in work not starting within 30 days after loan closing; or
· Cause the mortgagor to be displaced from the property for more than 30 days during the time the rehabilitation work is being conducted. (FHA anticipates that, in a typical case, the mortgagor would be able to occupy the property after mortgage loan closing).

New Maryland Foreclosure Process

The continued surge of foreclosures in Maryland has brought about new legislation. This will delay residential foreclosures and is an attempt to reduce the mortgage fraud in the market.

New Maryland Foreclosure Process
Governor O'Malley Signs Emergency Legislation to Protect Homeownership

Foreclosure Law Summary

SB 216/HB 365 – Foreclosure Process

Requires a mortgage or other security instrument on residential property to contain the license number of a mortgage originator or mortgage lender.
This provision would allow regulators to track which mortgage providers have the highest foreclosure and default rates.

Prohibits filing an action to foreclose on residential property until the later of:
90 days after default
45 days after the “Notice of Intent to Foreclose” (Notice) is sent

Prohibits the foreclosure sale from taking place sooner than 45 days after the service of process containing the Notice. This means that a foreclosure sale could not occur sooner than 135 days after default.

Requires the Notice to be sent to the mortgagor and record owner at least 45 days before filing an action to foreclose.

Requires the Notice to include information regarding the security instrument, including the debt due, the rights of the individual facing foreclosure (including the right to seek housing counseling or consult with a real estate licensee). The Notice encourages the person in default to act quickly.

Gives the person in default the ability to cure the default by paying all past due amounts and reinstate the loan up to 1 business day before the foreclosure sale.

This act is an emergency measure which takes effect April 3, 2008.

SB 217/HB 360 – Mortgage Fraud Protection

Allows the seizure of any property used in connection with mortgage fraud or gained through mortgage fraud.

Establishes certain defenses against forfeiture for innocent owners, tenants, and property used as a principal residence.

Defines mortgage fraud as any person intending to defraud by:
knowingly making misstatements, misrepresentations, or omissions during the mortgage lending process knowingly using any deliberate misstatements etc. receiving funds from a mortgage closing that resulted from fraud filing in the land records any document that the person knows to contain deliberate misstatements etc.

Establishes criminal and civil penalties, including criminal penalties of up to $100,000 or imprisonment up to 20 years for a person engaged in a pattern of mortgage fraud. Establishes criminal penalties of up to $5,000 or imprisonment of up to 10 years for a single violation.

This act is an emergency measure which takes effect April 3, 2008.

SB 218/HB 361 – Prohibition on Certain Foreclosure Transactions

Establishes requirements for a foreclosure consultant

Requires a foreclosure consulting contract to include a notice that the foreclosure consultant must provide the homeowner with written copies of information regarding the value of the homeowner’s property, including comparables or appraisals.

In addition to duties already prescribed under law, this bill adds additional requirements for foreclosure consultants, including:

Giving a homeowner a notice containing information regarding the financial details of the deal, the right to rescind the contract, and other information.

Limiting the amount of commission a foreclosure consultant can make to 8% or less of the sales price

Prohibiting the consultant from holding money in escrow or on a contingency basis on behalf of the homeowner

Mandating a foreclosure consultant engaged in real estate activity to hold a real estate license

Imposing a duty, similar to the fiduciary duties of real estate agents, on foreclosure consultants not engaged directly in real estate transactions
Requires a “Notice to Homeowner” to be included in any foreclosure contract that sells the property, and that also gives the homeowner a 5 day rescission period of the real estate contract. The notice is basically the same notice required under current law.

Establishes that a real estate licensee is NOT a foreclosure consultant as long as the licensee is:

Engaged in an activity for which they are licensed
D
oes not engage in prohibited foreclosure consulting activities

And, if working with a property in default, that the property in default is listed in the MLS, and is transferred through a settlement

Gives a homeowner whose property has been in default for more than 60 days, a 5 day rescission period after entering into a contract to the sell the property.

Prohibits purchasers of residences that have been in default for more than 60 days, from certain activities, including:

Representing that the purchaser is acting as an advisor or consultant on behalf of the homeowner

Representing that the purchaser has licensing or accreditation that the purchaser does not have

Representing that the purchaser is assisting the homeowner to “save the house” or substantially similar phrasing

Representing that the purchaser is assisting the homeowner in preventing a foreclosure if the result of the transaction is that the homeowner will no longer own the property

Making any false, deceptive or misleading statements regarding the value of the home or the amount of the proceeds the homeowner will realize

Recording any document before expiration of the 5 day rescission period

Requires purchasers to give a “State of Tenancy” if a tenancy agreement is included in the sale of contract for a residence in default.

This act is an emergency measure which takes effect April 3, 2008.

Lender Owned Foreclosures, Frederick, MD

Real estate foreclosures continue to surge in Frederick, Maryland. This is the recent report that we emailed to our clients.

LENDER OWNED FORECLOSURES, FREDERICK COUNTY, MD (Rev. 4/09/08)
(Contact us for further price reductions)

We have a very simple request if you wish to receive our information and advice. We ask you to agree to use us as your exclusive buyer agents for your next real estate purchase. Please advise us if you are represented by another real estate agent.

REO properties are foreclosed homes owned by lenders. We represent purchaser clients as their exclusive agents. The disclosures that are required for home buyers in Maryland will be provided when you meet with us. Buyers must have pre-approval letters for mortgage financing.

The following are available REO homes. Prices are reduced until they are sold.
REO: 109 A St., Brunswick 21716 5 BR/2.5 BA $172,500 SF REDUCED FROM $182,500
REO: 1701 Aldin Ct., Monocacy Landing I, Frederick 21701 4 BR/3 BA $450,900 SF REDUCED FROM $464,900
REO: 132 All Saints St., Frederick 21701 3 BR/1 BA $174,900 TH
REO: 45 Apple Way, Hillcrest Orchards, Frederick 21703 3 BR/2 FB/2 HB $164,900 TH
REO: 47 Apple Way, Hillcrest Orchards, Frederick 21703 3 BR/2.5 BA $165,900 TH
REO: 52 Apple Way, Hillcrest Orchards, Frederick 21703 3 BR/2.5 BA $165,900 TH
Fannie Mae: 4902 Arctic Tern Ct., Robin Meadows, Frederick 21703 3 BR/2 FB/2 HB $229,900 TH REDUCED FROM $249,900
REO: 53 Ashley Way, Ashley, Myersville 21773 4 BR/2.5 BA $378,550 SF REDUCED FROM $384,900
REO: 113 West B St., Brunswick 21716 2 BR/1 BA $175,000 SF
REO: 21 Bankbarn Cir., Glenrook, Middletown 21769 2 BR/2.5 BA $319,900 TH
Countrywide: 5618 Boone Ave., Frederick 21704 4 BR/1.5 BA $227,900 SF
Deutsche Bank: 6747 Brace Ct., Farmbrook, Frederick 21703 3 BR/1.5 BA $184,000 TH REDUCED FROM $210,000
REO: 6775 Brace Ct., Farmbrook, Frederick 21703 3 BR/2 BA $179,900 TH REDUCED FROM $189,900
Countrywide: 7087 Bradshaw Ct W, Foxcroft II, Frederick 21703 3 BR/2.5 BA $232,900 Gar TH REDUCED FROM $269,900
REO: 2127 Bristol Dr., Old Farm Station, Frederick 21702 3 BR/2.5 BA $219,900 TH
REO: 622 Brunswick St., Brunswick 21716 3 BR/2 BA $211,500 SF
REO: 13221 Catoctin Furnace Rd., Thurmont 21788 3 BR/1.5 BA $194,900 SF REDUCED FROM $234,900
REO: 5709 Catoctin Overlook Dr., Catoctin View, Mount Airy 21771 3 BR/2.5 BA $326,900 SF
REO: 104 Cavenrock Ct., Mill Crossing, Frederick 21702 4 BR/2.5 BA $259,900 TH
REO: 597 Cawley Dr. #5-3C, Ballenger Creek, Frederick 21703 2 BR/2 BA $205,000 Condo REDUCED FROM $210,000
REO: 837 Chadwick Cir E, Frederick 21701 2 BR/1 BA $154,900 TH
Countrywide: 5719 Chase St., The Chase of Foxcroft, Frederick 21703 3 BR/2.5 BA $208,900 Gar TH REDUCED FROM $215,900
Countrywide: 109 Chestnut Hill Way, Taskers Chance, Frederick 21702 3 BR/3.5 BA $259,900 TH
Fannie Mae: 7181 C Cimarron Ct., Country Side, Frederick 21703 3 BR/2.5 BA $199,900 TH
REO: 7285 F Coachlight Ct., Country Side, Frederick 21702 4 BR/2.5 BA $162,900 TH REDUCED FROM $215,250
REO: 6582 Colebrook Lane, Colebrook, Middletown 21769 4 BR/2.5 BA $360,000 SF REDUCED FROM $375,000
Wells Fargo: 2151 Collingwood Lane, Old Farm Station, Frederick 21702 3 BR/2 BA $259,900 SF
REO: 54 Concord Dr., Brunswick 21716 4 BR/2 BA $239,000 SF
REO: 12037 Coppermine Rd., Union Bridge 21791 3 BR/1.5 BA $199,900 SF NEEDS RENOVATION
Freddie Mac: 572 Cotswold Ct., Frederick Heights, Frederick 21703 3 BR/1.5 BA $163,500 TH REDUCED FROM $169,900
REO: 200 Cramer Ave., Glade Manor, Walkersville 21793 3 BR/2 BA $289,900 SF
American Home Mortgage: 6516 E Daytona Ct. #204, Crossing, Frederick 21703 3 BR/2.5 BA $249,900 TH
REO: 1742 Dearbought Dr., Monocacy Landing, Frederick 21701 4 BR/2.5 BA $384,900 SF
REO: 2502 Driftwood Ct., E #3A, Echo Glen, Frederick 21702 2 BR/2 BA $195,500 Condo
USB Warburg: 5203 Duke Ct., Kingsbrook, Frederick 21703 3 BR/2.5 BA $207,900 TH REDUCED FROM $230,000
Countrywide: 5303 Duke Ct., Kingsbrook, Frederick 21703 3 BR/2.5 BA $263,900 Gar TH
Freddie Mac: 1479 Eden Dr., Fredericktowne Village, Frederick 21701 4 BR/2 BA $247,500 SF REDUCED FROM $257,500
REO: 913 E St., Brunswick 21716 2 BR/1 BA $114,900 SF
Wells Fargo: 8841 Eureka Lane, Discovery, Walkersville 21793 3 BR/2.5 BA $139,893 TH REDUCED FROM $159,600
REO: 2627 Everly Dr., The Braemar, Frederick 21701 3 BR/2.5 BA $234,900 Gar TH Condo
REO: 7109 Feldspar Ct., Crest Manor Estates, Middletown 21769 4 BR/2.5 BA $279,900 SF
REO: 7104 Fern Lane, Fountaindale South, Middletown 21769 3 BR/2 BA $254,900 SF REDUCED FROM $299,900
HUD: 809 Fifth Ave., Hunters Knoll, Brunswick 21716 4 BR/2.5 BA $332,100 SF REDUCED FROM $350,550
Citi Financial Mortgage: 4410 Fishers Hollow Rd., Myersville 21773 2 BR/1 BA $226,900 SF REDUCED FROM $246,900
REO: 8524 Fortune Pl., Discovery, Walkersville 21793 3 BR/1.5 BA $145,000 TH REDUCED FROM $155,000
Countrywide: 116 Galyn Dr., Galyn Manor, Brunswick 21758 4 BR/2.5 BA $473,900 SF REDUCED FROM $495,900
Countrywide: 1615 Gibbons Rd, Point of Rocks Estates, Point of Rocks 21777 3 BR/2 BA $279,900 SF REDUCED FROM $314,900
REO: 9304 Granite Cir., White Rock, Frederick 21702 3 BR/1 BA $159,900 SF REDUCED FROM $199,900
Wells Fargo: 183 Greenway Dr., Willowcrest, Frederick 21702 3 BR/2.5 BA $241,000 SF REDUCED FROM $348,900
REO: 7059 Gresham Ct. W, Foxcroft, Frederick 21703 3 BR/2.5 BA $224,900 Gar TH
Countrywide: 111 Harpers Way, North Crossing, Frederick 21702 4 BR/2.5 BA $268,900 TH
Countrywide: 1512 Havilland Pl., Stonegate, Frederick 21702 4 BR/2 BA $222,900 SF
IndyMac Bank: 6293 Hawkins South Ct., Spring Ridge, Frederick 21701 4 BR/2.5 BA $410,900 SF REDUCED FROM $508,900
REO: 1723 Heather Lane, Amber Meadows, Frederick 21702 3 BR/1.5 BA $188,900 TH REDUCED FROM $199,900
Wells Fargo: 1737 Heather Lane, Amber Meadows, Frederick 21702 3 BR/2.5 BA $188,600 TH REDUCED FROM $189,000
REO: 820 A Heather Ridge Dr., Ambertowne, Frederick 21702 2 BR/2 BA $119,900 Condo
REO: 533 Hollyberry Way, Overlook, Frederick 21703 3 BR/2.5 BA $229,900 TH REDUCED FROM $236,500
Wells Fargo: 8731 Inquiry Ct., Discovery, Walkersville 21793 3 BR/2.5 BA $199,300 TH REDUCED FROM $199,900
REO: 229 Jefferson Pike, Knoxville 21758 3 BR/2 BA $214,900 SF
Amq. Mortgage: 3817 Jefferson Pike St., Jefferson 21755, 3 BR/1.5 BA $139,900 SF Built in 1890 REDUCED FROM $199,900
IndyMac Bank: 24 Jennifer Lynne Dr., Galyn Manor, Knoxville 21758 4 BR/2.5 BA $399,000 SF REDUCED FROM $441,400
REO: 800 Jubal Way, Tuscarora Knolls, Frederick 21701 3 BR/2 FB/2 HB $237,350 TH
U.S. Bank: 8995 Kay St., Park View Estates, Frederick 21702 4 BR/3 BA $329,900 SF REDUCED FROM $379,900
U.S Bank: 1403 Key Pkwy. #104, Key Parkway East, Frederick 21702 2 BR/1.5 BA $139,900 Condo REDUCED FROM $149,900
REO: 1403 Key Pkwy. #305, Key Parkway East, Frederick 21702 3 BR/1.5 BA $120,500 Condo
REO: 1525 Laurel Wood Way, Main, Frederick 21701 4 BR/3.5 BA $239,900 TH REDUCED FROM $249,900
REO: 130 Lauren Ct., Hillcrest Orchards, Frederick 21703 3 BR/2 FB/2 HB $189,500 TH REDUCED FROM $209,500
U.S. Bank: 5702 Lavender Plaza, Mountain Village, Frederick 21703 3 BR/2 BA $184,900 TH REDUCED FROM $209,900
REO: 1028 Lavenport Way, Mill Crossing, Frederick 21702 4 BR/2.5 BA $279,900 Gar TH
REO: 1805 Lawnview Dr., Amber Meadows, Frederick 21702 5 BR/1.5 BA $245,900 SF REDUCED FROM $269,900
Everhome Mortgage: 1303 Leafy Hollow Cir., Twin Ridge, Mount Airy 21711 4 BR/2.5 BA $449,900 SF REDUCED FROM $525,000
REO: 506 Logan St., Frederick 21701 5 BR/2.5 BA $227,500 SF
Ocwen: 11896 Lynn Crest Rd., Mid County View, Monrovia 21770 4 BR/2.5 BA $294,900 SF REDUCED FROM $304,900
REO: 405 Main St., Woodsboro 21798 3 BR/1.5 BA $239,900 SF REDUCED FROM $269,900
REO: 415 Maple Ave., Brunswick 21716 3 BR/2 BA $162,900 SF Built in 1915 REDUCED FROM $199,900
REO: 2832 Marker Rd., Christys Folby, Middletown 21769 5 BR/2.5 BA $435,000 SF REDUCED FROM $445,900
Freddie Mac: 127 McClellan Dr., North Crossing, Frederick 21702 4 BR/3.5 BA $309,500 Gar TH REDUCED FROM $319,500
Countrywide: 6951 Meadowlake Rd., New Market 21774 4 BR/3.5 BA $399,900 SF
REO: 4795 Mid County Ct., Mid County View, Monrovia 21770 4 BR/3 BA $319,900 SF REDUCED FROM $350,000
Countrywide: 1904 Middlefield Ct., North Crossing, Frederick 21702 5 BR/3.5 BA $464,900 SF REDUCED FROM $533,900
Countrywide: 602 Military Rd., Frederick 21702 4 BR/1 BA $244,900 SF REDUCED FROM $276,900
Keystone Asset Management: 6135 Mountaindale Rd., Frederick 21702 7 BR/6 BA $790,000 SF 14+ acres
Ocwen: 2222 Palace Green Ter., Whittier Pond, Frederick 21702 3 BR/2.5 BA $222,200 TH
Countrywide: 1222 Palladian Way, Coventry, Frederick 21702 3 BR/2.5 BA $331,900 SF
Fannie Mae: 2209 Parish Lane, Wormans Mill, Frederick 21701 4 BR/2.5 BA $315,900 Gar TH
Chase: 7269 Parkers Farm Lane, Westview, Frederick 21703 3 BR/2.5 BA $325,000 Gar TH
REO: 103 Pennsylvania Ave., Frederick 21701 2 BR/1 BA $208,000 SF
Countrywide: 9388 Penrose St. Villages of Urbana, Frederick 21704 3 BR/3.5 BA $369,600 TH REDUCED FROM $407,000
REO: 3671 Petersville Rd., Rosemont, Knoxville 21758 2 BR/1.5 BA $234,900 SF 1.67 acres
REO: 6125 Pine Crest Lane, Spring Ridge, Frederick 21701 3 BR.2.5 BA $286,900 TH
Freddie Mac: 3 Pleasant Acres Ct. E, Thurmont 21788 4 BR/3.5 BA $364,500 SF REDUCED FROM $414,900
GMAC: 218 North Pointe Ter., North Pointe, Middletown 21767 4 BR/3.5 BA $469,000 SF

REO: 509 Postoak Rd., Hillcrest Orchard, Frederick 21703 4 BR/3 BA $245,900 SF

Deutsche Bank: 10825 Powell Rd., Thurmont 21788 4 BR/3 BA $461,900 SF REDUCED FROM $560,000
REO: 527 Primus Ct. E, Prospect View, Frederick 21703 3 BR/3 BA $243,500 Gar TH REDUCED FROM $254,900
REO: 104 Quail's Nest Way, Taskers Chance, Frederick 21702 3 BR/2.5 BA $219,900 TH
REO: 6240 Ranier Dr., Stuart Mechanic, Frederick 21703 4 BR/2.5 BA $345,900 SF REDUCED FROM $379,000
Wells Fargo: 6524 Rimrock Rd., Eaglehead/Pinehurst, New Market 21774 3 BR/3 BA $289,900 SF
REO: 5634 Rockledge Ct., Hannover, Frederick 21703 3 BR/3.5 BA $215,900 TH
Fannie Mae: 6632 Rockridge Rd., Pinehurst, New Market 21774 4 BR/2 BA $335,900 SF
REO: 6834 Running Springs Ct., Culler Oaks, Frederick 21703 6 BR/3.5 BA $570,000 SF 6.7 Acres REDUCED FROM $580,000
Chase Home Finance: 6464 Saddlebrook Lane, Spring Ridge, Frederick 21701 5 BR/3.5 BA $524,900 SF REDUCED FROM $614,900
REO: 414 Shannon Ct., Croghan Square, Frederick 21701 3 BR/2.5 BA $205,900 TH
REO: 3809 Shetland Ct., Urbana Highlands, Frederick 21704 5 BR/3.5 BA $599,900 SF
Freddie Mac: 1641 Shookstown Rd., Frederick 21702 3 BR/1.5 BA $277,500 SF REDUCED FROM $289,990
REO: 3734 Singleton Ter, Villages of Urbana, Frederick 21704 4 BR/3.5 BA $329,900 Gar TH REDUCED FROM $349,900
REO: 5666 Singletree Dr., Farmbrook, Frederick 21703 3 BR/1 BA $265,000 SF
REO: 502 Smoketree Ct., Hillcrest Orchard, Frederick 21703 3 BR/1 BA $209,900 SF REDUCED FROM $332,500
REO: 1727 Springhouse Ct., Amber Meadows, Frederick 21702 3 BR/3.5 BA $180,000 TH REDUCED FROM $189,900
Lasalle Bank: 126 Stonegate Dr., Stonegate, Frederick 21702 3 BR/1.5 BA $205,900 Duplex
M&T Bank: 635 Swallowtail Dr., Emerald Farm, Frederick 21703 6 BR/3 BA $456,000 REDUCED FROM $509,900
Citimortgage: 433 Terry Ct #B1, Willow Glen, Frederick 21701 3 BR/1.5 BA $179,900 TH
REO: 12201 Timber Run Ct., Timber Run Estates, Monrovia 21770 4 BR/3.5 BA $554,000 SF REDUCED FROM $565,000
REO: 230 Timber View Ct., North Crossing, Frederick 21702 4 BR/3.5 BA $295,000 TH
Countrywide: 11803 Tommy Ct., Green Valley, Monrovia 21770 5 BR/3 BA $393,900 SF REDUCED FROM $456,900
U.S. Bank: 3987 Triton St., Villages of Urbana, Frederick 21704 5 BR/3.5 BA $482,500 SF REDUCED FROM $510,000
Wells Fargo Bank: 6906 Turnberry Ct., Mountain Village, Frederick 21703 3 BR/2.5 BA $197,370 TH REDUCED FROM $218,000
REO: 52 Vienna Ct., Willowcrest, Frederick 21702 3 BR/2 FB/2 HB $166,500 REDUCED FROM $174,900

REO: 12101 Weller Rd., Monrovia 2 BR/2 BA $149,900 SF REDUCED FROM $219,900
REO: 1506 Wheyfield Dr.,Main, Frederick 3 BR/2.5 BA $209,000 TH REDUCED FROM $295,000
REO: 1602 Wheyfield Dr., Monocacy Landing, Frederick 21701 3 BR/2.5 BA $239,900 TH REDUCED FROM $249,900
REO: 10405 Whiterose Dr., Greenview, New Market 21774 4 BR/2.5 BA $494,900 SF REDUCED FROM $559,900
Chase: 1205 Whitley Ct., Coventry, Frederick 21702 4 BR/3 BA $284,900 SF
Countrywide: 4922 Whitley Ter., Wellington Trace, Frederick 21703 3 BR/2.5 BA $236,900 TH
REO: 1122 Wilcox Ct., Tuscarora Creek Pond, Frederick 21702 4 BR/3.5 BA $499,900 SF REDUCED FROM $509,900
Countrywide: 5807 Woodville Rd., Hawthorne, Mount Airy 21771 4 BR/3 BA $471,900 SF REDUCED FROM $493,900
Please contact us if you have questions about the foreclosure process in Maryland. If you are searching for a property, please tell us about your specific needs.
Please refer your friends that may wish to purchase a residence or investment property.

Your Real Estate Advisor,

Roy Kelley

Roy Kelley & Associates
Associate Broker, RE/MAX Realty Group
6 Montgomery Village Avenue, Suite 200
Gaithersburg, MD 20879

Direct: 301-921-4569 Client Assistance: 301-670-8996
Email: roykelley@mris.com Fax: 301-921-4586 Main Office: 301-258-7757 x 569

Home Search Website: www.roykelley.com (All available listings may by viewed on Homes Prospector)
Realty Times Newsletter Link: http://realtytimes.com/c/RoyKelley

Providing Loss Mitigation services for home owners facing foreclosure. Marketing REO homes for lenders.

Montgomery County REOs: Please contact us if you wish to receive our Montgomery County report on lender owned foreclosures.

Montgomery County, MD Real Estate Tax Disclosure

In Montgomery County, Maryland, sellers and their agents have quoted the current real estate tax figures when providing information to prospective purchasers.

Now the rules have changed and the county is requiring full disclosure of the estimated real estate taxes for the new owners.

Montgomery County, MD - Disclosure - Property Tax Effective April 1, 2008: Effective April 1, 2008, a new law in Montgomery County, MD is in effect. The purpose of this new law is to provide the buyer of an owner-occupied principal residential property an estimate of the property tax bill (plus non-tax charges included on the bill) in the first full fiscal year of ownership. For more detail regarding this law: http://www.montgomerycountymd.gov/apps/OCP/Tax/Explanation.asp
To assist sellers and buyers and their real estate professionals in Montgomery County, the County’s Office of Consumer Protection, has developed an online “calculator” that determines the approximate property tax and other non-tax charges that a new homeowner would pay on a property during the first full year of ownership. The calculator is located at www.montgomerycountymd.gov/estimatedtax . By entering the address of any residence, the approximate tax obligation of a potential new homeowner is provided.