Foreclosures in Lancaster, PA and Pennsylvania Bank Owned Properties
Even conservative Lancaster County PA, is not immune to the home foreclosures crisis currently facing other parts of the nation. By most appearances the Lancaster economy would appear to be plugging along as normal, restaurants are crowded the parking lot at the mall is full. Still WGAL and the Lancaster New Era report layoffs at major Lancaster, PA employers. Donnelley Printing and Alcoa MPD off Manheim Pike in Lancaster have both had recent layoffs. Displaced workers may experience financial difficulties and those without nest eggs may face foreclosure.
Fortunately the Lancaster real estate market did not experience the 100% year of year increases in housing prices that some communities of California, Florida and Arizona did. The more conservative increase in housing prices here will help many local home owners by keeping their mortgages right side up and prevent the need to short sell their homes if they can’t make the payments.
Foreclosure Homes in Lancaster, PA
There are still foreclosure homes in the Lancaster market. The same excessive practices by mortgage lenders seen in other counties and states were present here in Central PA. Mortgages for 100% of appraised value. Mortgages for those with bad credit. Mortgages for those with out income. If you find yourself in need of help either in preventing the foreclosure of your home or in locating Lancaster, PA foreclosure homes and properties to purchase consider contacting a realtor. Lancaster realtors have access to full listings of foreclosures in Lancaster County and information that can aid in stopping the foreclosure process on your Lancaster property.