Thursday, November 29, 2012

#705 goes back to Deutsche Bank

The auction of the Juan Reyes unit #705 is over and the mortgage holder Deutsche Bank simply purchased it for $20,100.  There was only one other bidder. 

Typically the Bank will purchase these foreclosures and will bid up to the amount due on the mortgage no matter what others might bid.

Expect the unit to now be turned over to a realtor and eventually sold for between 40-50% of the original 12/11/06 sale price of $168,200.

Also Bank of America is just about to take back #701 from us (originally the Jarrett condo).  BofA Filed Lis Pendens 6/12/12 and entered a 'Motion for Final Judgment' on 10/30/12.  Shortly the Court will grant them title and it also will be auctioned off 30 days after that. 

If you want to keep up with the various auctions for foreclosure see:

To see 'Final Judgement of Foreclosure go to:

Misc:  The units we now own and their original owners are-
506 - Grass
701 - Jarrett (going to auction shortly)
401 - Thomas
702 - Ussery
705 - Reyes (no longer our unit)