Overview
This Short Sale is located at Park Ln, Ford Heights, IL 60411. This property is Short Sale.
Save money on this property now.
This property is available as a short sale at Park Ln. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Ford Heights, specifically for Park Ln and comparable listings. Based on this expert analysis, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on Park Ln are updated daily along with others in Ford Heights, Illinois, ensuring you have the most current and accurate information.
There are 4 schools in the area. Nearby schools include Ford Heights School and Whittier Elementary School.
There are plenty of activities near this property like Ford Heights Public Library, St. Margaret's Hospital, and more.
Public transportation options include: Metra Rail Service provides connections to downtown Chicago and surrounding areas, ensuring residents have access to public transit., Local bus services run through the area, connecting Ford Heights with nearby neighborhoods and essential services.. Other services include ride-sharing services like Uber and Lyft.
Parks nearby include Ford Heights Park, Hometown Park and more.
Services available in the area include cellular and internet options.
The property located at Park Ln in Ford Heights, IL is listed as a Short Sale
Short sale properties like Park Ln in Ford Heights, Illinois represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.
Here is how to proceed:
Short sales can create opportunities to save big on the purchase of a property. Such agreements are entered into between a purchaser, a property owner, and the lender. Even though by definition a short sale means the lender is accepting less than the amount owed on the mortgage loan, it is not a certainty that the property is being purchased at a below market price. For that reason, you must still perform the same due diligence as you would on any other real estate transaction. The professional services of an appraiser, property inspector, and title agent are advised when structuring a short sale.
| Start Date | End Date | Listing Type | Bank Name |
|---|---|---|---|
| 04/18/25 | Short Sale | ||
| 04/25/22 | 02/19/23 | Preforeclosure | THE BANK OF NEW YORK MELLON |
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Overland Ave Ne
Warren, OH
| 2 BEDS |
2 BATHS |
840 SQUARE FEET |
Single-Family PROPERTY TYPE |
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