$255,000


3 Beds   2 Baths   1,655 Sq. Ft.

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Jade Ave
Port Arthur, TX 77640

Potential Profit

$9,992

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Status: Active
Listing ID: 56771592

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Foreclosure Timeline

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

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10/07/21
Bank owned
The lender has taken ownership of this property through a foreclosure auction for the amount of $255,000. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers. The longer lenders own properties, however, the more eager they become to sell, often at reduced prices.
08/31/20
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
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Potential Home Value

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Current Value
$255,000
Potential Value
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HUD Home

Purchase this incredible HUD home with a low down payment! U.S. Department of Housing and Urban Development (HUD) is a federal agency that insures mortgages to homeowners through its Federal Housing Administration (FHA). Therefore, when banks foreclose on HUD-guaranteed mortgages, the government agency acquires the properties and often offers them for sale at super low prices to the public. HUD houses are among the very best deals in real estate today and, accordingly, don't last long on the market. Act fast!

First Steps to Buying a Foreclosure

Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:

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Jade Ave
Port Arthur, TX 77640

3 Beds   2 Baths   1,655 sq. ft.

$255,000

Status: Active Listing ID: 56771592

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Property Description

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