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Posted by: Dean Foust on October 10, 2007
Like this. This is what the banks get back after they foreclose and take back the property. Good luck trying to sell this without another $20,000 in repairs. I’m trying to track down the address of this property and how much the bank is asking and will post an addendum if I can…
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.