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Gilmore Ave
Durham, NC 27707

Status: Inactive
Listing ID: 54698468

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Property Information

  • Day(s) On Site: 752
  • Defendant Name: Nathaniel Lee Devine
  • Case Number: 19SP1077
  • Recording Date: 12-05-2019
  • Last Sale Price: $144,900
  • Filing Date: 11-26-2019
  • Trustee Name: Nodell, Glass & Haskell, L.L.P.
  • Trustee Address: Fayetteville Street Mall Two Hannover Square, Suite 2402
  • Trustee City: Raleigh
  • Trustee State: NC
  • Trustee Zip: 27601
  • Trustee Phone: (919) 821-2600
  • Deed Category: NOD
  • Book: 7562
  • Page Number: 657
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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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    Loan Information

  • Lender Name: State Employees Credit Union
  • Lender Address: PO Box 25279
  • Lender City: Raleigh
  • Lender State: NC
  • Lender Zip: 27611
  • Last Mortgage Date: 09-02-2014

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Durham, NC
Home Inspectors
Stephen and Son Home Inspections, LLC
Stephen M. Mihaich
919-219-4178
Sheldahl Property Inspections
Richard Sheldahl
9198863005
Homes On This Street
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Gilmore Ave
Durham, NC 27707

 

Status: Inactive Listing ID: 54698468

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