Foreclosure auction?

142 Cat Rock

I just noticed that this place was advertised for a foreclosure auction last February 20th. Anyone know whether it went forward?

7 Comments

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7 responses to “Foreclosure auction?

  1. foobar

    From what I can glean from the announcement, this appears to be the typical final step by the bank to take possession. Looks as if the mortgage on the place was 3.2MM Any bidder above that took the place, otherwise the bank now owns it and will put it up for sale soon enough. I imagine the bank owns it, if you know the lender you might be able to get a deal now.

    • christopherfountain

      Thanks Foobar. And i agree – assuming the bank (seems to be JP Morgan Chase*) agrees to a haircut of, say, 20%? That’s a beautiful house at a great price. Of course, you’d have to live in Cos Cob, but I understand some people actually prefer that!
      * original loan was from them but plaintiff is US Bank National Association, an entity with which I am unfamiliar. Do you suppose Chase is outsourcing its foreclosures?

  2. foobar

    US Bank is a large bank located in Minneapolis. They are probably the lender of record. Agree, it looks like a nice house if you like living on CatCrap er Rock (oh just kidding), and based on recent sales on that street the mid 2’s sounds like a very good deal (assuming it is finished, don’t know if it is a developer bust). If I were a buyer I would contact the bank, I have to believe they have already marked it down below that level, and may well be willing to immediately unload it in the mid 2’s.

  3. Playahh

    Why wouldnt you broker guys chase the bank, get the listing and then hawk it here? I dont get why brokers are shy about foreclosures.

    • christopherfountain

      Fudrucker and I spend most of our days chasing foreclosures – it’s where the action is.

  4. anonymous wxyz

    Tax records show this house in the name of Brad A Cohen and Kerry R Durels, purchased in 2005 for $4,050,000, so it doesn’t appear to be fully foreclosed on at this point – maybe just headed in that direction?

    • christopherfountain

      Well, the connecticut judicial records (I have a link to that somewhere over to the right) shows a final judgment has entered. Tax records are as of October of last year and so out of date.