Foreclosures of the Week
On Thursday at 3 p.m., the financial institution that loaned the current owner of 416 Pacific Street $810,392 against the four-story brownstone will seek to recoup its money at the weekly public foreclosure auction held in Room 261 at the Kings County Courthouse in Downtown Brooklyn. Also of interest to bottom feeders bargain hunters may…
On Thursday at 3 p.m., the financial institution that loaned the current owner of 416 Pacific Street $810,392 against the four-story brownstone will seek to recoup its money at the weekly public foreclosure auction held in Room 261 at the Kings County Courthouse in Downtown Brooklyn. Also of interest to bottom feeders bargain hunters may be the sale of Apartment 1D at 325 Clinton Avenue in Clinton Hill. There’s outstanding debt of $159,022 against the co-op apartment.
416 Pacific Street [Property Shark] GMAP
325 Clinton Avenue, #1D [Property Shark] GMAP
The What you didn’t answer my question. Why are you so angry?
Anyone know the state of it inside?
Anyone got a link to auction procedure (bank check amount, etc)?
If they marketed these things more effectively the bank could get a better return. As it is, it seems they spring into the public eye from nowhere, with no inspections, nothing but a wing and a prayer.
“Bottom feeders”…what a smug snot you are, Mr. Brownstoner.
oh uh. Some one forgot to take their meds today. Can someone please go over to The What’s cave and give him his medication.
Someday The What is going to get a job …….
Brooklyn’s going to become a ghost town? Just like in ’87? Yeah, right. Talk about out of control…
Easy to call people bottom feeders when you can buy your brownstone with Daddy’s money. I love it when these rich kids get self righteous…
“lol The What. Why so angry?”
I have witnessed the greatest asset bubble in history. People wanted to get a house because their (insert asshole here) got one.
We will pay for our folly for years to come. Nobody give a shit or are too stupid to care.
Inflation is out of control! Asset prices are out of control! Food, gas and other things we buy are out of control!
BTW Nobody is paying their Mortgages now. They are going to walk away, leaving ghost blocks and towns in they wake.
Dream on assholes, it’s only a matter of time.
The What
Someday this war is gonna end
Does anyone understand the title and mortgage history on the Pacific Street property? There’s a May 2002 deed transfer by the previous owner for $675,000 (followed by a mortgage dated May 2003 and recorded July 2003 for $607K and further assigned to a new lender in 2006), but then a July 2003 deed transfer by the previous owner to a completely different corporate entity for no value.
So — is there a clear title to be had by purchasing at foreclosure, and how did the mortgage get to be over $800 K if the loan was only for $607K?
“i’ve been told that in nyc banks are moving things at market value”
They would like to have you believe such. But, think a little about what’s market. If it at least close to the mortgage debt, why wouldn’t the homeowner just sell for market. Simple fact that when foreclosure sales increase market prices will be going down, down, down…