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Hendrickson Rd,
Freehold, NJ 07728

Status: Inactive
Listing ID: 50722666

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Property Information

  • Days On Site: 812
  • Plaintiff: Champion Mtg
  • 2nd Plaintiff: USA
  • Recording Date: 03-09-2018
  • Owner Name: Sheila Beverly Cottrell (Exerx of Est of Marjorie Helen Tephford Cottrell)
  • 2nd Owner Name: Marjorie Helen Cottrell Mcginnis Wildman (aka Wildman), Francine Marion Cottrell, Francis (aka Frank) Marion Cottrell Sr., Stephanie Johanna Cottrell Sanlin
  • Attorney Name: RAS Citron LLC
  • Deed Category: NOD
  • Docket Number: F-4525-18
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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: 2009
  • 1st Mortgage Amount: $810,000
  • 2nd Mortage Date: 2009
  • 2nd Mortage Amount: $810,000

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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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Freehold, NJ
Home Inspectors

Buyers Protection Group
Peter Aiello
800-285-3001
EXCEL Home Inspections, LLC
John R Youmans
732-580-4284
House To Home Inspection Services Inc.
Colin M. Lennon
732-608-1840
foreclosure.com

Hendrickson Rd
Freehold, NJ 07728

 

Status: Inactive Listing ID: 50722666

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Property Description

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