Cities Foreclosure
what are the financial implications of having the house next door to mine in foreclosure?
This is the downtown area of a major northeast coast city. To my knowledge its one of only three homes in forclosure in this area. So its not like a sarasota FL. market. Our town only lost about 20% in value.
There are no legal implications relative to immediate neighbors concerning such a foreclosure. However, the sale price of this property MIGHT have an effect on YOUR property. If you wish to re-finance or sell, you are certainly entitled to point out that your immediate neighbor’s property was a ‘distressed sale’.
SOLD! AVOID FORECLOSURE! SHORT SALE SUCCESS STORY! Fox Cities,WI Kim Burton RESOURCE ONE
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