North Adams, Massachusetts 01247
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North Adams, MA 01247

Preforeclosure
Listing ID: 52284110
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. For more check out 'First Steps' below.
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  • Property Classification
    • Classification Id: Notice of Default
    • Classification Desc: Considered the first phase of the foreclosure process, a homeowner will receive this notice if he or she misses one or more mortgage payments in states that follow non-judicial foreclosure actions. This represents a great opportunity to purchase a home at a significantly reduced price before it is repossessed by a lender.
  • Property Information
    • Day(s) On Site: 151
  • Foreclosure Information
    • Plaintiff: MOUNTAINONE BANK
    • Defendant Name: JAMES J MORANDI
    • Recording Date: 03-18-2019
  • Loan Information
    • 1st Mortgage Date: 11-09-2005
    • 1st Mortgage Amount: $22,000
  • AVM Report
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  • Mortgage Information
    • Estimated Monthly Payment: Payment Information
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FIRST STEPS:

Preforeclosures

Often, the preforeclosure period is the best time to purchase a property.

Read more

Preforeclosure begins when a lender first notifies a borrower that his or her loan payments are behind. This notification also details the consequences that occur if payments, penalties and interest are not brought current.

In most cases, a foreclosure severely limits a borrowers future credit options. Therefore, 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 rather than to let it go into foreclosure.

If you're interested in the property, contact the borrower/owner as soon as possible. For your convenience, this contact information is located under the property's "Foreclosure Information" header.

Carefully explain that you can help him or her avoid foreclosure by purchasing their home before it is lost to the lender.

Your timely assistance can be very important. But, be sensitive to the difficulties they are facing and be prepared to close quickly.

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