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user017114

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WHY IT SHAWS FORKLOSURE ON THE ADD

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The bank is foreclosing / has foreclosed on the house apparently because the loan has not been paid by the owner.  The Zillow page for 5 Kent St, Farmingdale, NY (which you asked about in a different posting) says the unpaid balance on the loan was $14 k and the house is being offered for sale for around $369 k.  Very sad for the owner if true.  'Foreclosure' is to alert potential buyers of this fact.  Foreclosed properties often pose more problems for buyers relative to conventional sales.

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