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W 58th St #2H
New York,
NY
10019
(Clinton)
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1 bed / 1 full bath
- 701 sqft
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Condo
- Pre-foreclosure / Lis Pendens
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$818,563
Market
Value
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Added on Trulia 180+ days ago
Property Details
180+ Days on Trulia
142 views
- Provided by:
Description provided by Realty Trac
W 58th St #2H Notice of Default. This property has started the foreclosure process because a
loan secured by the property is in default. The borrower/homeowner still has the opportunity to stop the foreclosure by catching up on defaulted payments or paying off the entire loan balance usually by refinancing or selling the property. Homeowners in default are often motivated sellers who want to avoid losing their property at public foreclosure auction. Please register for a free trial with RealtyTrac to access complete information for this property, including full address, foreclosure details, owner and lender information, and more.
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Pre-Foreclosure
Auction
Bank Owned
Pre-Foreclosure (Notice of Default or Lis Pendens):
Pre-foreclosure (NOD or LIS) is the first stage in the foreclosure process that begins when a homeowner receives a default notice for missing one or more mortgage payments. Owners in default can stop the foreclosure process by paying the past-due payments or by paying off the entire loan balance — usually by refinancing or by selling the property. They can also avoid foreclosure by selling before the auction — this may have to be a short sale if the homeowner owes more than the property is worth. Homeowners in pre-foreclosure are usually motivated sellers who want to avoid losing their property at a public foreclosure auction.
Read more about Pre-Foreclosures »
Auction (Notice of Trustee Sale or Notice of Foreclosure Sale):
A public foreclosure auction (NTS, NFS) occurs when a homeowner in default does not stop foreclosure proceedings during the pre-foreclosure period. Properties are typically auctioned off in a public location — such as a local county courthouse — by an attorney or local public official. Auctions can present opportunities to buy properties below market value, but usually don't allow for property inspections and often require that buyers pay in cash — typically in the form of cashiers checks. Up until the auction occurs, however, buyers may still have an opportunity to buy directly from the homeowner in default via short sale or regular sale.
Read more about Foreclosure Auctions »
Bank Owned (REO):
A property becomes a full-fledged foreclosure — sometimes referred to as a Real Estate Owned (REO) property — when it is repossessed by the foreclosing lender. The lender can take possession either through a deed-in-lieu-of foreclosure agreement with the owner during the pre-foreclosure period or through a winning bid at the public foreclosure auction. Foreclosing lenders are often motivated to sell these properties quickly because they are non-performing assets for their bottom line. Of the three stages of foreclosure, REOs are most likely to also be listed for sale with a real estate agent on the MLS, but not all REOs are listed yet — meaning buyers may have to contact the lender or servicer directly to make an offer.
Read more about Bank Owned Foreclosures »
Eviction of former owners or tenants is the buyer's responsibility. Even if you've conducted thorough research on a foreclosure property and successfully placed the winning bid at the public auction, it doesn't necessarily mean you can move into the property...
By RealtyTrac |
43 Comments
Pre-foreclosure is a crucial time in the foreclosure process. It is during this period that investors can typically make the largest profits and can negotiate a deal that may be favorable for all parties involved including the buyer, homeowner, and lender....
By RealtyTrac |
46 Comments
If you're interested in investing in pre-foreclosure property, you should know that owners in default may not agree to sell until the last minute — sometimes only a few days before the public foreclosure auction. You'll need to act quickly and may even...
By RealtyTrac |
21 Comments
Local Info
$1,099,500
4 br / 2 ba
Single-Family Home
OPEN HOUSE Sun Oct 16, 2pm to 4pm
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1306201cfcb71777820d178cf5a9df60126f28
Fair Housing and Equal Opportunity
