$82,418 EMV

Single-Family
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S Sheldon St
Rantoul, IL 61866

Status: Active
Listing ID: 56832186

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Auction

Bank Owned

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View Foreclosure Status
10/29/21
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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Address: S Sheldon St Rantoul IL 61866

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Listing History

Start Date End Date Listing Type Bank Name
10/29/21   Preforeclosure NEWREZ LLC
06/27/17 10/08/17 Bankruptcy

Homes On This Street
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S Sheldon St
Rantoul, IL 61866

Single-Family

$82,418 EMV

Status: Active Listing ID: 56832186

Property Information

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Public Records

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Property Description

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Listing URL

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