We don't want that kind of activity in this neighborhood.
No graffiiti, no drive-bys
This is a scam notice, geared towards signing you up for RealtydotTrac. You can't buy this house, it isn't for sale. The payoff on the first mortgage is more than the market value of the property. Simply because the owner missed a payment doesn't automatically equate to ' a bargain'. Don't be a sucker...Long after the first payment is missed, the painfully slow process will eventually put this house up for sale. Default is the first stage of a foreclosure that is likely months from happening. Default, then foreclosure action, sheriffs sale, Lender bids payoff which is waaaaay above market value, redemption period..then trashed out, water meter removed, plumbing winterized, listed for sale THEN...bring your boots, flashlight and clipboard and see just how far under water the previous owner was, how angry they were, how much maintenance had been deferred. Gauge that against your own financial resources, level of ambition and ability, timeline and optimism. Make an offer. Get jerked around by the bank, maybe close. Get to work. Don't give up...we are well into 2013, by now the real estate market might be showing signs of life. Don't count on it.