Wilderness Way Auction
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Would love to know. That house is right across the street from my lot.
The high bid was $460,000 
The seller (Homecomings Financial Network, a division of GMAC) has 7 days to accept or reject the bid. I think the mortgage balance was considerably higher than the bid.
The seller (Homecomings Financial Network, a division of GMAC) has 7 days to accept or reject the bid. I think the mortgage balance was considerably higher than the bid.
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The high bid was $460,000
Last owner (before turning title over to the bank) paid $695k for the home in 2004.
Man, that's gonna leave a mark!
<Note to self: Check portfolio for funds containing GMAC bonds.>
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the mark that these foreclosures leave unfortunately will not be on lower taxes due to lower sales comps ...because the state uses only "arms lenght" transactions and they consider these unusual circumstances that do not reflect the reality of the market...i beg to differ...
looks like some banks do not mind owning a little real estate after foreclosure...it's on the market for $749K.
I'm seeing several banks holding some property. I know they don't want to be in the land holding business, but if they can hold on long enough, the banks will be the ones to profit, IMO.
I'm guessing the privately held banks are more open to ORE. Is that what you've seen?