$365,840 EMV


4 Beds   2 Baths   3,445 Sq. Ft.   Commercial

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N Austin Blvd
Oak Park, IL 60302

Status: Active
Listing ID: 56810921

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06/08/11
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
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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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Oak Park, IL
Home Inspectors

Premium Home Inspections
Rick F. Sabatino
708-383-2186
Clearview Home Inspections, Inc
William Kent
312-833-2799
Property Guidance Inspection
Phil Gould
773-469-3390
foreclosure.com

N Austin Blvd
Oak Park, IL 60302

4 Beds   2 Baths   3,445 sq. ft.   Commercial

$365,840 EMV

Status: Active Listing ID: 56810921

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Property Description

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https://static.foreclosure.com/listing/address.html?address=N-Austin-Blvd-Oak-Park-IL-60302/56810921_lid

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