$620,412 EMV

Get the Preforeclosure Address

Oldfield Rd
Downers Grove, IL 60516

Overview

This Preforeclosure is located at Oldfield Rd, Downers Grove, IL 60516. This property is currently in pre-foreclosure with an estimated market value of $620,412.
Save money on this property now.

Status: Active
Listing ID: 59183499
Interested in this property?
View More Photos
Create a Free Account

Learn about Oldfield Rd in Downers Grove, IL

This property is available as a preforeclosure at Oldfield Rd. Based on our analysis of the current market conditions in Downers Grove for Oldfield Rd and comparable listings, the estimated market value is $620,412. If purchased for rental purposes, the monthly rental rate could range between $2,880 and $3,180. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Oldfield Rd are updated daily along with others in Downers Grove, Illinois. Since this property is a preforeclosure, check out our Foreclosure Timeline for Oldfield Rd below to see helpful information about this listing.


Buy this home for as little as

Plus with taxes and insurance

Based on 20% down, 30 year mortgage, with 5% APR

Principal
Interest
Property Taxes
Homeowners Insurance
Total Monthly Ownership Cost

All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependant on credit scores, loan timeline, and a down payment amount.

Foreclosure Timeline

Oldfield Rd in Downers Grove Illinois Property History

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

Find out more about this property on Oldfield Rd
View Foreclosure Status
06/15/22
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
Rental Chart
View Rental and Market Value
for Oldfield Rd in Downers Grove Illinois
View Market Value

Property Information

Public Records

Preforeclosure

The property located at Oldfield Rd in Downers Grove, IL is listed as a Preforeclosure

This listing located at Oldfield Rd in Downers Grove, IL could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.

Please take note that this property in Downers Grove, Illinois is not listed as a Rent-to-Own (RTO) opportunity. It is currently in an initial default stage in Downers Grove, IL, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage.

Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. If the current owner in Downers Grove, Illinois doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.

For this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications.

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.

Read more...

Loan Information

Legal Information

Credit Information Center

County Information

Document Center

Rental Value

The estimated rental value for Oldfield Rd located in Downers Grove, IL is $3,030/month. Comparable homes around Oldfield Rd that are rentals have monthly ranges starting as low as $2,880 per month and as high as $3,180 per month. An owner looking to use this property as an investment could bring a return in the area of $2,880 - $3,180 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.

Similar Homes Nearby Downers Grove, IL


The information provided on the Website, which encompasses details such as property dimensions, floor area, valuation, geographic location, and general property description, is furnished for your convenience and originates from third-party sources. This data should not be interpreted as constituting a contractual offer for the procurement, leasing, or advertising of real estate. No express or implied warranties or assurances are extended concerning these properties, including their availability. While the data presented on this Website is considered reliable, it acknowledges a degree of uncertainty, thus necessitating independent verification.

The administrators of this platform, as well as their respective directors, associates, and personnel, have not undertaken a process of due diligence to verify the accuracy of the information. Their role is limited to disseminating the information, and they do not accept liability, whether direct or indirect, for any injuries, losses, claims, damages, or associated indirect or consequential harms, including but not limited to lost profits or savings, arising from the use of any information or any deficiencies, inaccuracies, or defects in the disseminated information within the bounds of the Website.

Foreclosure.com, in conjunction with its Affiliates, disclaims any responsibility arising from your acquisition of third-party goods, services, or tangible properties based on the informational context of the Site. Foreclosure.com reserves the right, at its sole discretion and without prior notice, to rectify errors or omissions within any section of the Site or to restrict access to the Site.

Relying solely on the informational content featured on the Website is not advisable. Conduct your own personal inquiries and seek legal counsel regarding any property under consideration within the scope of the Website or the associated data.


MORTGAGE CALCULATOR

Calculate monthly mortgage payments with our easy mortgage loan calculator.

Homes On This Street
View more homes on Oldfield Rd
foreclosure.com

Oldfield Rd
Downers Grove, IL 60516

$620,412 EMV

Status: Active Listing ID: 59183499

Property Information

Sign in to see detailed property information.

Public Records

Sign in to see detailed property information.

Property Description

Sign in to see detailed property information.

Listing URL

https://static.foreclosure.com/listing/address.html?address=Oldfield-Rd-Downers-Grove-IL-60516/59183499_lid

Get NEW Foreclosure Listings sent to your inbox

Millions of people receive foreclosure alerts daily, don't miss out.

Privacy Policy   |   Terms and Conditions of Service   |   © Foreclosure.com / ForeclosureFreeSearch.com 1999-2023. All Rights Reserved.