42 Vela Court
I have said it before, “Class is how you show up in the world during your difficult times.” I don’t know who took the photos for this listing, and they are aesthetically nothing to write home about, BUT, what a great sense of humor. That is Gretchen on the tube. I love it.
It is going to be interesting to see if this property makes it through the short sale. Word is that the most difficult aspect of a short sale is getting the 2nd lien holder to sign off. In the case of 42 Vela Court, the 3rd holder will also have to sign off on the short sale. It doesn’t seem like it should be that difficult. Isn’t just a matter of how much they get paid and wouldn’t that be just a straight percentage by now? “Sign this and take this check or get nothing.” Simple, eh?
Anywhooz, 42 Vela Court was purchased in May of 2003 for $875,000 with 10% down. It as refied and HELOCed multiple times until March of 2003 with a total amount financed betweent the 1st, 2nd, and 3rd for $1,299,995. The Notice of Default recorded on 11/09/09 for $72,315; not a record, but still a goodly amount. The Notice of Trustee Sale recorded with an auction scheduled for 3/26/10. 42 Vela Court is listed as a short sale with a status of “Backup Offers Accepted.”
zaander
May 25th, 2010
do you know what they currently owe each on the first, second, and third?
cdcrez
May 25th, 2010
According for Foreclosure Radar, the 1st originally funded for $925,000 and the amount owed on 3/05/10 was $1,044,822, and my guess is that a bit more than that is owed now.
The 2nd funded for $306,630, and
the 3rd funded for $75,000, but your guess is as good as mine as to what is currently owed on the 2nd and 3rd.
somethings happening
July 31st, 2010
we closed today