Foreclosures of the Week
First up this week is 99 Hawthorne Street, a 1,936-square-foot one-family house that changed hands as recently as January of this year but is already in foreclosure with a lien of $463,509. Second pick of the week: A one-story commercial building at 83 Seigel Street in Bushwick. The 2,500-square-foot space has a lien on it…
First up this week is 99 Hawthorne Street, a 1,936-square-foot one-family house that changed hands as recently as January of this year but is already in foreclosure with a lien of $463,509. Second pick of the week: A one-story commercial building at 83 Seigel Street in Bushwick. The 2,500-square-foot space has a lien on it of just $12,222. Snap it up! The auctions for both properties take place on Thursday at 3 p.m. at 360 Adams Street, Rooms 261 and 274 respectively.
99 Hawthorne Street [Property Shark] GMAP
83 Seigel Street [Property Shark] GMAP
According to a comment on the Hawthorne Street blog yesterday this house was sold, to a family who intend to live in it. The sale is reported to have closed on the 24th.
interestingly, i called the broker to make an appointment to see the property.
They said they were too busy that day and would call me back. they never did…..
PS I could be wrong, but I think the what saved me $200,000 at least.
Unfortunately, FLH, as I’m sure you’ve observed, this neighborhood (PLG) is rife with similar situations of mortgage fraud — and given what else I’ve seen going on on Hawthorne, a tear down is probably in this poor house’s future. OTOH, one benefit of a slower economy may be a decline in the proliferation of Fedders crap (and Atlantic Yards crap!).
if you read the property shark numbers, the 99 hawthorne situation looks like classic mortgage fraud. Four mortgages in 8 years, each bigger than the last, no work done on the house, sold by a family member to another family member in February, now defaulting owing twice what it was paid for 7 years ago. Fishy as hell. I live on the block, and this is in a row of frame houses. I just hope it doesn’t go for a teardown.
I saw the house on Hawthorne. 30K-50K would renovate it but not with upscale finishes. If the bank takes a little less than 460K, this would be doable for a middle income family.
They should have chopped the price of the hawthorne house to get it sold.
If id does go to foreclosure, someone will snap that up.
the 99 hawthorne street property was on sale this summer with Aguayo- $699K-749K. The realtor said that it needed a lot of work and that a contractor had estimated it at around $30k- I think it would be more.
I never went to the open houses, so maybe some one else can say more.
on propertyshark.com; not sure, but you probably have to have a paid subscription to access them
Where do you find these foreclosures?