Thursday, May 17, 2007

8386 South Custer Lane, Evergreen, First Payment Default

Here we have a great passive solar home in Evergreen/Valley Hi Ranch Estates which was purchased with no money down. As a matter of fact the buyer was paid to take this POS off the sellers hands.
Purchased 10/30/1984 $115,000
Listed 09/15/2005 $365,000
Lowered to $335,00 and sold 12/27/2005
Sales price $420,000...01/06/2006. That is approximatley $85-90K+/- in the buyers pocket!
Now this nice home is Evergreen sits empty and Oak Street Mortgage has 2 more bad loans. Oak street originated the first mortgage $336,000 and the second mortgage $84,000.
Too bad Chase, CITI or whomever got stuck with these bad loans didn't know ALL the facts.
This flipper scored..Kimberly Martinez...way to go Kim!

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