Property Q&A in Minneapolis>Question Details

Marc.d.chapm…, Home Buyer in 55414

What is the actual address of this property?

Asked by Marc.d.chapman, 55414 Thu Jun 2, 2011

This question is about this property:…

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Mary Alice is correct. Unfortunately the service reporting this information, RealtyTrac, has incorrectly stated this property is bank owned. It is not. As stated, the property is currently in the redemption period. The borrowers still own it until that is over. The "price" you see is what the highest bid at the foreclosure auction/sheriff sale was. Basically it was what the lender was owed.

Should they get it back (and they likely will) they will have it valued and place it on the market.

One thing to note is that these borrowers can still sell the property. And for a different amount then the sheriff sale "price".

If the lender agreed to a short sale... But with time running out, it would be unlikely.

There are ways, however, to be at or near the front of the line when the house is coming available for sale. And that is all we do.

If interested in learning more feel free to contact me. No obligation.

Steele V. Propp
Foreclosure Specialist
0 votes Thank Flag Link Thu Jun 2, 2011
Most likely it is 1901 East River Terrace. This property was foreclosed upon on 1/4/2011 and the redemption period ends on 7/5/2011. After 7/5/2011 the lender may own the property and it may list and sell the property.
0 votes Thank Flag Link Thu Jun 2, 2011
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