$690,965 EMV

3,084 Sq. Ft.

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Cheyenne Dr,
Franklin Lakes, NJ 07417

Status: Inactive
Listing ID: 55200662

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Property Information

  • Living Area Size: 3,084
  • Year Built: 1968
  • Days On Site: 314
  • Plaintiff: Peapack Gladstone Bank
  • Owner Name: Associated Building Systems Inc.
  • 2nd Owner Name: Peak Development Corp. and Kenneth W. Newman
  • Recording Date: 03-18-2020
  • Attorney Name: Ostrowitz and Ostrowitz
  • Deed Category: NOD
  • Docket Number: F-4444-20

Public Records

  • Land Area Sqft: 40,075
  • Year Built: 1968
  • APN: 20-01110-0006-00011
  • Property Type: Single Family Residence
  • Living Sqft: 3,084


Often, the preforeclosure period is the best time to purchase a property. The process begins when a lender first notifies a borrower that his or her loan payments are behind. If a borrower has no other means to bring the payments up to date, he or she is far better served to sell the property as soon as possible before it falls into foreclosure.

    Property Classification

  • Classification Id: Notice of Default
  • Classification Desc: Considered the first phase of the foreclosure process, a homeowner will receive this notice if he or she misses one or more mortgage payments in states that follow non-judicial foreclosure actions. This represents a great opportunity to purchase a home at a significantly reduced price before it is repossessed by a lender.

    Loan Information

  • 1st Mortgage Date: 2007
  • 1st Mortgage Amount: $750,000

    NEW Credit Information Center

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Listing History

Start Date End Date Listing Type Bank Name
03/13/20 01/07/21 Preforeclosure Peapack Gladstone Bank

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.


Franklin Lakes, NJ
Home Inspectors

Affinity Home Inspection Services
Roy E Stanley

Cheyenne Dr
Franklin Lakes, NJ 07417

3,084 sq. ft.

$690,965 EMV

Status: Inactive Listing ID: 55200662

Property Information

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Public Records

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Property Description

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