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Garrison Cir,
Port Barrington, IL 60010

Status: Inactive
Listing ID: 36043107

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Property Information

  • Day(s) On Site: 2719
  • Sale Type: FORECLOSURE
  • Parcel Number: 15 32 278 021 0000
  • Property Type: Single Family Dwelling
  • Plaintiff: WELLS FARGO BANK
  • Owner First Name: ROBERT A
  • Owner Last Name: SCHMACK
  • 2nd Owner First Name: MARY E
  • 2nd Owner Last Name: SCHMACK
  • Case Number: 12CH2050
  • Recording Date: 08-08-2012
  • Judgment Date: 04-01-2012
  • Judgment Value: $290,287
  • Input Date: 08-14-2012
  • Attorney Firm Address: 1807 W DIEHL RD STE 333
  • Attorney Firm City: NAPERVILLE
  • Attorney Law Firm: FREEDMAN ANSELMO LINDBERG LLC
  • Attorney Firm Phone: (630) 983-0770
  • Attorney Firm State: IL
  • Attorney Firm Zip: 60563-1890
  • Deed Category: NOD
  • Document Number: 10R-010756
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Public Records

  • APN: 15-32-278-021
  • Property Type: Single Family Residence
  • Township: NUNDA TOWNSHIP
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Preforeclosure

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: 01-15-2010
  • 1st Mortgage Amount: $299,545
  • Mortgage Interest Rate: 510
  • Mortgage Term: 30
  • Mortgage Type: CONVENTIONAL

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Listing History

Start Date End Date Listing Type Bank Name
08/16/19   Preforeclosure MIDFIRST 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.

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Garrison Cir
Port Barrington, IL 60010

Single-Family

 

Status: Inactive Listing ID: 36043107

Property Information

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Public Records

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Property Description

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Listing URL

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