The one forclosure that I followed all the way through the process was eventually sold to a bulk seller. That transaction was recorded in the County records just like every sale.
Defaulted Mortgage: Approximately $600,000
Property listed: $450,000 in Summer of 2008
Turned down offers of $350,000 and $375,000
Bulk Sale Price: $265,917 in December 2008
Final Sale Price: $359,900 in February 2009
House needed quite a bit of work. The bulk sale company claims, on their website, they fix them up. They did nothing, but it was recorded for anyone to see at the County Recorder’s Office.
