Foreclosures

There were at least 14 lis pendens announcing commencement of foreclosure proceedings filed yesterday – I say at least 14, because I was only looking for properties that clients of mine might find of interest. I won’t say which those are – I take care of my clients first – but 29 Byfield Road, that huge spec project, seems to be under the gun before it’s even finished. There are a couple on Sunshine that aren’t doing well and we can probably guess why that poor bastard on Stanwich committed suicide a few weeks ago, too. Sad times.

One note to the owners of Druid Lane: if you want to delay things, have your lawyer check the notice of lis pendens. It recites that the property is “in the County of New London”. Probably not fatal, since they did manage to record it in the right place, but it’s probably worth a month of delay while your lawyer asserts the claim of improper service and loses.

6 Comments

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6 responses to “Foreclosures

  1. Riverside Roger

    CF,
    I can confirm the Stanwich Rd tradegy was as a result of financial woes…I tried to advise him on his situation..to no avail.
    Lets take it a little easy with the gloating here, guys, there’s a lot of genuine misery out there.

  2. Duffy

    Amen, RR.

  3. anon

    What happened with the place on Lockwood in Riverside that was supposed to be auctioned last week?

    • christopherfountain

      They cancelled the auction and are going the short sale route. Beautiful old house but the work involved in bringing it back would be huge, and you’d still end up with a house right on the road sharing a driveway. I don’t know what it’s worth but regardless,there are probably better places to invest your money.

  4. anon

    Thanks Chris. I was wondering if there was going to be a crowd blocking traffic on Lockwood during a crazy auction.

    I want to know what Mad Monkey smokes, because it must be good. I’ll wager my memberships at the Y and Stanwich that he beats the 1300+ DOM for that other house.

  5. Anonymous

    No one’s gloating, but you must admit that it’s all about greed.
    Everyone thought that they were going to ‘make a killing’.
    How can you pay $1mil for land, build for $1mil and think that the remainder $1mil+ isn’t going to ‘rip off’ some ‘out of towner’ or hard-working ‘banker’?!!
    High risk, high reward. High risk.