$115,425 EMV

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Melrose Dr
La Place, LA 70068

Overview

This Preforeclosure is located at Melrose Dr, La Place, LA 70068. This property is currently in auction with an estimated market value of $115,425.
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Status: Inactive
Listing ID: 58089162

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Property Information

  • Source ID: 21557014
  • Day(s) On Site: 61
  • Subdivision: RIVERLANDS
  • Defendant Name: ROBERT JOSEPH OREILLY
  • Plaintiff: REVERSE MORTGAGE FUNDING LLC
  • Case Number: 77177
  • Trustee Name: CRIS JACKSON
  • Trustee Address: 1010 COMMON STREET # 1800
  • Trustee City: NEW ORLEANS
  • Trustee State: LA
  • Trustee Zip: 70112
  • Trustee Phone: (504) 581-9444
  • Deed Category: NFS
  • Mortgage Balance: $164,858
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Potential Home Value

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Public Records

  • APN: 0410098300
  • Property Type: Single Family Residence
  • Subdivision: RIVERLANDS
  •  

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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Auction Information

  • Auction Date: 08-10-2022
  • Auction Address: 1811 WEST AIRLINE HIGHWAY
  • Auction City: LAPLACE

    Loan Information

  • Mortgage Balance: $164,858

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Rental Value

The estimated rental value for Melrose Dr located in La Place, LA is $1,160/month. Comparable homes around Melrose Dr that are rentals have monthly ranges starting as low as $991 per month and as high as $1,378 per month. An owner looking to use this property as an investment could bring a return in the area of $991 - $1,378 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

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Melrose Dr
La Place, LA 70068

$115,425 EMV

Status: Inactive Listing ID: 58089162

Property Information

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Public Records

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=Melrose-Dr-La-Place-LA-70068/58089162_lid

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