3.5 Baths   5,067 Sq. Ft.   Single-Family

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Franklin Ave,
Western Springs, IL 60558

Status: Inactive
Listing ID: 48393163

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Property Information

  • Bathrooms: 3.5
  • Living Area Size: 5,067
  • Year Built: 2003
  • Days On Site: 1708
  • Sale Type: FORECLOSURE
  • Parcel Number: 18 05 319 028 0000
  • Property Type: Single Family Dwelling
  • Owner First Name: ROBERT
  • Plaintiff: PARTNERS FOR PAYMENT RELIEF DE IV LLC
  • Owner Last Name: FELDMEIER
  • 2nd Owner First Name: KATHLEEN
  • 2nd Owner Last Name: FELDMEIER
  • Case Number: 16CH006730
  • Recording Date: 05-16-2016
  • Judgment Date: 01-21-2015
  • Judgment Value: $34,930
  • Input Date: 05-20-2016
  • Attorney Firm Address: 2644 KULL RD
  • Attorney Firm City: LANCASTER
  • Attorney Law Firm: BARHAM LEGAL LLC
  • Attorney Firm Phone: (740) 689-9828
  • Attorney Firm State: OH
  • Attorney Firm Zip: 43130
  • Deed Category: NOD
  • Document Number: 0503133034

Public Records

  • Baths: 3.5
  • Full Baths: 3
  • Half Baths: 1
  • No. of Stories: 2
  • Parking: DETACHED GARAGE
  • Air Conditioning: CENTRAL
  • Fireplaces: YES
  • Exterior Wall Type: MASONRY
  • Roof Material: ASPHALT SHINGLE
  • Land Area Sqft: 9,240
  • Year Built: 2003
  • APN: 18-05-319-028-0000
  • Property Type: Single Family Residence
  • Living Sqft: 5,067
  • Basement Finish Type: UNFINISHED
  • Garage: DETACHED
  • Style: MULTI-LEVEL
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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: 01-21-2005
  • 1st Mortgage Amount: $150,000
  • Mortgage Interest Rate: 725
  • Mortgage Term: 15
  • Mortgage Type: CONVENTIONAL

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Listing History

Start Date End Date Listing Type Bank Name
07/09/20   Preforeclosure US Bank Na Trustee


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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Franklin Ave
Western Springs, IL 60558

3.5 Baths   5,067 sq. ft.   Single-Family

 

Status: Inactive Listing ID: 48393163

Property Information

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Public Records

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Property Description

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Listing URL

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