Forestville, Maryland 20747
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Forestville, MD 20747

2 Baths | 1,092 sq. ft.
Preforeclosure
Listing ID: 52847604
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: Lis Pendens
    • Classification Desc: If a homeowner misses one or more mortgage payments in states that follow judicial foreclosure actions a lender will file this formal notice with the local courthouse. The term is also used to describe mortgage-related complaints, which allow third parties to know that there is a pending legal action that affects the property. Approaching a homeowner at this stage of default represents a tremendous opportunity to make money in the real estate market because he or she is motivated to sell before potentially losing the house to foreclosure. It is important to do your research to determine what type of litigation the lis pendens relates to before approaching a property owner. A lis pendens is also filed when there is some other legal claim being made against a particular property, such as lien claims by contractors, divorce cases, and fines and penalties assessed by homeowner associations.
  • AVM Analysis
    • Valuation Estimate: $250,000
    • Disclaimer: This AVM value is not an appraisal, it is based on previous sales in the area.
  • Property Information
    • Bathrooms: 2
    • Living Area Size: 1,092
    • Lot Size: 0.20 acres
    • Year Built: 1954
    • Source ID: 20577979
    • Day(s) On Site: 108
  • Property Tax Roll
    • Parcel Number: 060655894
    • Property Type: Single Family Dwelling
  • Foreclosure Information
    • Plaintiff: Citicorp Trust Bank, FSB
    • Defendant Name: MELVIN COLBERT AND MARIA COLBERT
    • Case Number: CAEF19-23659
    • Recording Date: 07-30-2019
  • Loan Information
    • 1st Mortgage Date: 03-02-2007
  • AVM Report
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  • County Information
  • Document Center
  • Mortgage Information
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FIRST STEPS:

Preforeclosures

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

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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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