3,430 Sq. Ft.

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Broadway
Paterson, NJ 07501

Status: Inactive
Listing ID: 29081903

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Property Information

  • Living Area Size: 3,430
  • Lot Size: 0.09 acres
  • Levels: 2
  • Source ID: 8777407
  • Days On Site: 3811
  • Estimated Value: $268,000
  • Improvement Value: $372,000
  • Assessed Value: $509,300
  • Land Value: $137,300
  • Parcel Number: 0804201000000003
  • Plaintiff: CITIBANK NA
  • Defendant Name: IFEOMA E. EZEKWO
  • Case Number: F 15868 06
  • Last Sale Amount: $185,000
  • Last Sale Date: 09-16-2004
  • Trustee City: MOUNT LAUREL
  • Trustee Name: PHELAN HALLINAN AND SCHMIEG
  • Trustee Address: 400 FELLOWSHIP ROAD SUITE 100
  • Trustee State: NJ
  • Trustee Zip: 08054
  • Trustee Phone: (856) 813-5500
  • Trustee Reference Number: 152989
  • Deed Category: NTS
  • Mortgage Balance: $429,903

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: 10-04-2011

    Property Classification

  • Classification Id: Notice of Trustee Sale
  • Classification Desc: This announcement, which is made available to the public by law, describes the date, time and other details of a trustees sale. Finding out about these auctions first will give you more time to research potential bargains and help you get the jump on other investors.

    Loan Information

  • Mortgage Balance: $429,903

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Broadway
Paterson, NJ 07501

3,430 sq. ft.

 

Status: Inactive Listing ID: 29081903

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