1 Bath   1,176 Sq. Ft.   Single-Family

8606 S Bishop St, Chicago, IL 60620

Status: Inactive
Listing ID: 49320078

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Property Information

  • Bathrooms: 1
  • Living Area Size: 1,176
  • Year Built: 1937
  • lien_holder_1: HUD 1435208028 9167
  • lien_holder_2: DISCOVER BANK 1114504123 8132
  • lien_holder_3: CHICAGO CITY (IL) 1506435071 1240
  • Day(s) On Site: 1823
  • Sale Type: FORECLOSURE
  • Subdivision: CHARLES E PIPERS
  • Parcel Number: 20 32 325 017 0000
  • Property Type: Single Family Dwelling
  • Plaintiff: WELLS FARGO BANK
  • Owner First Name: SYLVESTER
  • Owner Last Name: WASHINGTON
  • 2nd Owner First Name: LORETHA
  • 2nd Owner Last Name: WASHINGTON
  • Case Number: 17CH00792
  • Recording Date: 01-19-2017
  • Judgment Date: 07-01-2015
  • Judgment Value: $241,540
  • Input Date: 01-24-2017
  • Attorney Firm Address: 1 E WACKER DR UNIT 1730
  • Attorney Firm City: CHICAGO
  • Attorney Law Firm: MANLEY DEAS KOCHALSKI LLC
  • Attorney Firm Phone: (312) 651-6700
  • Attorney Firm State: IL
  • Attorney Firm Zip: 60601
  • Deed Category: NOD
  • Document Number: 0801705004
  •  

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Public Records

  • Baths: 1
  • Full Baths: 1
  • No. of Stories: 1
  • Air Conditioning: YES
  • Fireplaces: YES
  • Exterior Wall Type: FRAME/MASONRY
  • Roof Material: ASPHALT SHINGLE
  • Land Area Sqft: 4,187
  • Year Built: 1937
  • APN: 20-32-325-017-0000
  • Property Type: Single Family Residence
  • Front Footage: 33
  • Depth Footage: 124
  • Living Sqft: 1,176
  • Basement Finish Type: UNFINISHED
  • Style: BUNGALOW
  • Subdivision: CHARLES E PIPERS
  •  

Preforeclosure

Often, the preforeclosure period is the best time to purchase a property. The process begins when a lender first notifies a borrower that his or her loan payments are behind. If a borrower has no other means to bring the payments up to date, he or she is far better served to sell the property as soon as possible before it falls into foreclosure.

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

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    Loan Information

  • 1st Mortgage Date: 12-13-2007
  • 1st Mortgage Amount: $207,060
  • Mortgage Interest Rate: 650
  • Mortgage Term: 30
  • Mortgage Type: FHA

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Homes On This Street
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S Bishop St
Chicago, IL 60620

1 Bath   1,176 sq. ft.   Single-Family

 

Status: Inactive Listing ID: 49320078

Property Information

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Public Records

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Property Description

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