Foreclosure Pressure at 14 Fort Greene Place?
The asking price of 14 Fort Greene Place, recently cut from $1,469,000 to $1,399,000, may get a lot cheaper a lot faster, if a tipster we heard from is on the mark. According to someone who lives on the block, the owner was just served with foreclosure papers this week for a $910,000 mortgage that…
The asking price of 14 Fort Greene Place, recently cut from $1,469,000 to $1,399,000, may get a lot cheaper a lot faster, if a tipster we heard from is on the mark. According to someone who lives on the block, the owner was just served with foreclosure papers this week for a $910,000 mortgage that was taken out on the property in 2006. If that is indeed the case, the seller, who’s been trying to dump the place since last summer, might be what real estate agents like to refer to as “motivated” at this weekend’s open house, which, in case you’re interested, takes place on Sunday from 1:30 to 2:30.
14 Fort Greene Place [Corcoran] GMAP P*Shark
Too bad it’s not a real house any more but rather a decrepit four-unit tenement.
A rent stabilized tenant really does not have to pay any rent for years and years if they have any complaints such as moisture damage on walls or ceilings, drafty windows, bugs, you name it. It may well be heading for foreclosure because the owner may not be able to cover his debt to the bank through a sale.
Rumors….Yeah, brownstoner….what do you think this is Star Magazine.
A 910K mortgage was taken out on the house last year, after what appears to be a situation in which the owner owned the house outright after an earlier satisfaction of a much smaller mortgage amount. Owner has had house since 1997.
It’s a sad day when someone who has cashed out to the tune of $750,000 (or $910,000 if they didn’t pay out the initial $149k loan) over ten years suddenly can’t pay their mortgage. Tis but a cautionary tail.
I think most important thing to remember here is “This is a BLOG” A blog dedicated to population of folks that are in love with Brownstones. Public record also indicates the possible foreclosure. This is the type of information that you would look to get from an informed community.
Lighten Up. Good Grief!
People, this is a blog, not a newspaper. We should be trading in rumor exclusively.
In all events, if the rumor is false, the seller can reject those low ball offers from the vultures with misinformation. If the rumor is true, Mr. B has generated interest and the vultures can bid each other up to an efficient price.
How do we find out how much it finally goes for without actually going there
I tend to agree with 11.33 and others. Either independently verify if the rumor is correct or don’t publish it. To do so without verification is irresponsible imo. It is easy enough to search the lis pendens records to see if it about to go into foreclosure. If it is not there, then the seller is getting a bit of a rough shake down via this blog (a blog I like quite a bit – despite some of the nasty threads).
Hey Brownstoner, it is unfair that you are spreading these rumors. You might cost this guy tens of thousands of dollars due to his weakened bargaining position. Nice.