user017114's Advice

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user017114 wrote:

WHY IT SHAWS FORKLOSURE ON THE ADD

Answer
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.
November 17 2012
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