Sycamore Village Neighborhood Foreclosure

Just learned that another Sycamore Village area vinyl-victorian has been taken back in a bank foreclosure. This house at 466 Monroe Street was first sold for $86,500 in 2004. Citimortgage took it back recently - mortage balance and fees placed this foreclosure at $96, 600. The City has assessed the property for $66,500.
So, will someone please help me understand why the City is constructing a suburban development just a block and half from 466 Monroe.

Bank is Citigroup. Wonder why they are taking hits? Mortgage melt-down begins right here on Monroe Street. Place will probably re-sell somewhere in the mid 20's.

Remember 241 Monroe, from last week?
ArtspaceBAVPAWoodlawn Row Housesfaqmy flickr
the creativity exchangetop ten or eleven


Anonymous said...

Can't blame them for giving that one back to the bank

Anonymous said...

you mean people don't want to live in tiny little plastic houses anymore? Come on! Really?

Anonymous said...

Is there another way to save the house? How about the extension time for them to find a way before leaving the house.

Anonymous said...

I find it interesting though it really need a little improvement.