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
We don’t print most rumors but this one came from a very good source. Plus it’s pretty clear that it’s a rumor and should be taken as such.
…yeah Mr. B, why did you make this guy purchase a brownstone that he couldn’t afford and then report on the default…shame on you.
The lis pendens is public record and it’s listed on Property Shark. Check the link.
>>Mr. Brownstoner, How can you print this? A rumor that it is going into foreclosure? That is irresponsible.<< Agreed.
Mr. Brownstoner, How can you print this? A rumor that it is going into foreclosure? That is irresponsible.
With mortgages up to 725k having the potential of being conventional, maybe if the owner refinanced the new mortgage would be low enough to match the rents.
I hope your tipster’s information is correct. Otherwise, this is just a rumor, and the vultures will circle for nothing.
See comments on this house from December thread. There are tenant issues:
http://tinyurl.com/2rtpr5
“The income off the 4 apartments would not equal the monthly carrying costs if the purchase price is north of 1.2m.”
Especially not when the income from the rent stabilized tenant in the ground floor apt is probably negligible.