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Foreclosure in 60609 : Real Estate Advice

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  • Home Buying6
  • Home Selling1
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Activity 3
Sat Jul 2, 2011
Michael Hobbs answered:
One interesting thing that is starting to occur more is that Home Owner Associations are taking a more active approach to receiving their monthly assocation dues even when the owner is delinquent. In a number of cases, they are seeking action against the tenant and even looking to take possession of the unit so they can rent it out and collect the income to offset what is due to them if the owner of the unit will not or cannot pay. Therefore as tenant, you would be well-suited to retain legal counsel.

Additionally, that same attorney could verify for you where in the legal process of foreclosure your owner/landlord is. the website is but if you don't know legal terminology, it will be a struggle to interpret.

Additionally, whether the landlord/owner is paying the mortgage or not, you have a contractual right to pay him/her. If by chance you have been served any type of legal documents, you may consider going to the next court date and speak w/ the presiding judge to determine what if any actions you can take since you say you are willing to stay and even buy the unit.

Our client, Cherry Picker, works with cash buyers who acquire these kinds of properties and might be a good a good information source although they tend to only work with investors.

Best of luck,

Michael Hobbs
PahRoo Appraisal & Consultancy
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0 votes 16 answers Share Flag
Mon Sep 27, 2010
Mitch Gordon answered:
Yes, the listing expired on 9-2-2010. It was listed by Unlimited Property Management - Pamela Morris. Here is her phone number: 708-849-8106. This property was listed back on 8-7-2006 for $75,000 and the last price was $4500. That is one heck of a discount. Good luck to you. ... more
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Tue Nov 10, 2009
Matt Laricy answered:
You wont be able to contact the bank and get information about it. Its probably in the process of getting put on the market. I would have your buyers agent keep an eye out for the property to come on the market. If you dont currently have a buyers agent, I would get one. I would be happy to help. Good luck!

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
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