Is 1,317 really the price? I have no knowledge in bank owned homes, please clarify the actual price.

Asked by Marc, 18045 Sun Apr 26, 2009

I have no idea about Bank Owned Property if you could clarify what the true price for this condo is that would be great, also does the potential buyer need to pay of the remainder of the loan, or lean? I am sure there are strings or fine print, if you wouldn't mind clarifying that would be great. Thanks!

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This question is about this property: http://www.trulia.com/foreclosure/2004394190--Freedom-Ct-Bet…

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3
Sean LaSalle, Agent, Macungie, PA
Sun May 31, 2009
Marc,

The address to this property is 109 Freedom ct. Citimortgage owns the home and it is going to foreclosure soon. The $1317 represents the amount of 1 month mortgage. The previous owners had a mortgage of $157,000. back in 2005. So depending on what type of mortgage they had, the bank is in for between 145k and 157 k. If bid in at sheriff sale, you need to make sure there are no other leins on the property because you would be responsible for them.

The property may hit the market with a broker soon. If you have any other questions, feel free to give me a call.

Thanks,

Sean LaSalle
Weichert Realtors
610-737-5369
slasalle@weichert.com
0 votes
Cliff Lewis, Agent, Allentown, PA
Mon Apr 27, 2009
Marc,

I looked on our MLS system and did not find anything about Freedom Court at or near this price. There are 2 townhouses for sale on Freedom Court, but in Palmer not in Bethlehem. RealtyTrac is a tough site to use, in that most of the listing that "sound to good to be true" usually are! Condo's in this area sell for the high 100's to low 200's. I do not work to much with foreclosures but work with a lot of local investors, if you are looking for a list of investment properties not currently on the market, let me know and I can send you some stuff.

Thanks, and good luck


Cliff Lewis
610-509-9834
c.lewis@cbhearthside.com
0 votes
Dana Schuster, Agent, Slidell, LA
Mon Apr 27, 2009
This is not a listing,it is a Realty Trac posting. Realty Trac and similar sites are not authorized to list property. They just publish notices of default & foreclosure from the public records. most of these properties are not yet on the market. When foreclosure is complete,this property will be listed at market value which will be determined at that time. If you are interested in purchasing a foreclosure,i urge you to work with a local agent as this process can be tricky & complicated.
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