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Bonnie Brae Pl
River Forest, IL 60305

Status: Inactive
Listing ID: 56368191

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Property Information

  • Source ID: 21175759
  • Days On Site: 156
  • Subdivision: RIVER FOREST
  • Parcel Number: 15-01-211-081-1013
  • Defendant Name: JAMES E BROWN
  • Case Number: 2020-CH-6436
  • Recording Date: 11-16-2020
  • Trustee Name: MANLEY DEAS KOCHALSKI LLC
  • Trustee Address: 1 E WACKER STE 1250
  • Trustee City: CHICAGO
  • Trustee State: IL
  • Trustee Zip: 60601
  • Trustee Phone: (312) 651-6700
  • Trustee Reference Number: 20-017028-CGK
  • Deed Category: NOD
  • Document Number: 2032121460

Public Records

  • APN: 15-01-211-081-1015
  • Property Type: Condominium
  • Subdivision: RIVER FOREST
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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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    Property Classification

  • Classification Id: Notice of Default
  • Classification Desc: Considered the first phase of the foreclosure process, a homeowner will receive this notice if he or she misses one or more mortgage payments in states that follow non-judicial foreclosure actions. This represents a great opportunity to purchase a home at a significantly reduced price before it is repossessed by a lender.

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Bonnie Brae Pl
River Forest, IL 60305

 

Status: Inactive Listing ID: 56368191

Property Information

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Public Records

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Property Description

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Listing URL

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