That Centex house had 100% financing on it in late 2005 consisting of a $400,000 1st and a $100,000 2nd, both with Centex Mortgage. The house went to foreclosure and the loan servicer, Quality Mortgage, transferred the loan/property via a “Tenancy by Entireties” deed to Nationstar Mortgage on 01/10/07. The amount of the deliquent 2nd and accumulated penalties and interest must be $109,646, which is the amount of indebtedness that shows in the tax records, which is what Zillow is showing.
Thanks TemekuT, that explains the zillow sale but I still have to wonder what the bank/seller has been smoking if it didn’t sell in the 400’s in 2006 why they think it has a chance in the 500’s for 2007. I was hoping some of these must sell brown lawners would drive the market down, not up. Don’t they look at what is for sale in the same development and try to price it at/under or are they throwing darts at a board?
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