Condo

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N State St Ste 3829,
Chicago, IL 60654

Status: Inactive
Listing ID: 49823294

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Property Information

  • Days On Site: 1277
  • lien_holder_1: MARINA TOWERS CONDO ASSN
  • lien_holder_2: HUD 1022935065 375000
  • Sale Type: FORECLOSURE
  • Subdivision: SOUTH CHICAGO
  • Parcel Number: 17 09 410 014 1714
  • Property Type: Condo
  • Owner First Name: DONALD E
  • Plaintiff: REVERSE MORTGAGE SOLUTIONS INC
  • Owner Last Name: BEAVERS
  • Case Number: 17CH007630
  • Recording Date: 05-30-2017
  • Judgment Value: $224,359
  • Input Date: 06-02-2017
  • Attorney Firm City: BURR RIDGE
  • Attorney Firm Address: 15W030 N FRONTAGE RD STE 100
  • Attorney Law Firm: CODILIS & ASSOCIATES PC
  • Attorney Firm Phone: (630) 794-5300
  • Attorney Firm State: IL
  • Attorney Firm Zip: 60527-6921
  • Deed Category: NOD
  • Document Number: 1022935064

Public Records

  • Land Area Sqft: 2,500
  • APN: 17-09-410-014-1714
  • Property Type: Condominium
  • Front Footage: 50
  • Depth Footage: 50
  • Subdivision: SOUTH CHICAGO

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: 08-10-2010
  • 1st Mortgage Amount: $375,000
  • Mortgage Interest Rate: 556
  • Mortgage Term: 84
  • Mortgage Type: REVERSE

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Listing History

Start Date End Date Listing Type Bank Name
05/18/20   Preforeclosure Reverse Mortgage Solutions Inc


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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Chicago, IL
Home Inspectors

Brad Haugen Home Inspections, Inc.
Bradley C. Haugen ACI
773-407-2094
Buyers Protection Group Inspections
Lesley (Les) W Glowacz
800-285-3001
True Blue Home Inspections, Inc.
James Clark
3129250166
Keeshin Inspection Services
Stuart Keeshin
773-871-2356
JRW Property Inspection and Consulting LLC
Jerry Woznyj
773-851-9627
foreclosure.com

N State St Ste 3829
Chicago, IL 60654

Condo

 

Status: Inactive Listing ID: 49823294

Property Information

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Public Records

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Property Description

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Listing URL

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