Michelle Ern…, Home Buyer in Jersey City, NJ

Foreclosure Pricing

Asked by Michelle Ernest, Jersey City, NJ Mon Feb 4, 2013

When foreclosures are listed (such as this one, at $45,000), is that what the bank is asking a buyer to pay for the home? Or is it more?

This question was asked from this property: http://www.trulia.com/foreclosure/3096818264--2nd-St-4-Jerse…

Help the community by answering this question:


The amount shown on the listing is the amount owed on the loan. It is confusing, but these properties are not yet being offered for sale. The property is in the process of foreclosure and MAY ultimately be for sale at a price usually higher than what is shown as the "loan amount."

When you see the listings coming from RealtyTrac please be aware that these are NOT being offered and the current time and may or may not eventually be listed for sale.

Let me know if I can be of any further help.
0 votes Thank Flag Link Mon Feb 4, 2013
This is not a foreclosure Only a Notice of Default.
This is the amount that is owed that is in default and does not include the penalty and interest and or legal fees associated with foreclosure
This would be considered a pre foreclosure right now.

Search foreclosures and short sale here: http://www.BuyNJShortSales.com

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0 votes Thank Flag Link Mon Feb 4, 2013
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