Single-Family
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County Road 500
Bayfield, CO 81122

Overview

This Single-Family Preforeclosure is located at County Road 500, Bayfield, CO 81122. This property is currently in auction.
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Status: Inactive
Listing ID: 33616296

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Property Information

  • Lot Size: 0.8 acres
  • Source ID: 10371474
  • Day(s) On Site: 3781
  • Parcel Number: 5377-291-00-017
  • Property Type: Single Family Dwelling
  • Plaintiff: FIRST SOUTHWEST BANK
  • Defendant Name: WEST MOUNTAIN TIMBER ESTATES LLC
  • Recording Date: 02-24-2012
  • Trustee City: PUEBLO
  • Trustee Name: KETTELKAMP YOUNG AND KETTELKAMP PC
  • Trustee Address: 201 WEST 8TH. STREET SUITE 540
  • Trustee State: CO
  • Trustee Zip: 81003
  • Trustee Phone: (719) 543-4321
  • Deed Category: NFS
  • Mortgage Balance: $595,708
  • Document Number: 1043148

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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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Auction Information

  • Auction Date: 06-27-2012

    Loan Information

  • 1st Mortgage Date: 06-30-2006
  • Mortgage Balance: $595,708

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County Road 500
Bayfield, CO 81122

Single-Family

 

Status: Inactive Listing ID: 33616296

Property Information

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Property Description

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Listing URL

https://static.foreclosure.com/listing/index.html?&listingid=33616296

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